Mathematics

A man borrows ₹ 5,000 at 12% compound interest p.a., interest payable every six months. He pays back ₹ 1,800 at the end of every six months. The third payment he has to make at the end of 18 months in order to clear the entire loan will be:

  1. ₹ 2,024.60

  2. ₹ 2,204.60

  3. ₹ 2,240.60

  4. ₹ 2,402.60

Compound Interest

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