Question

Mr. Dubey borrows Rs. 1,00,000 from state bank of India at 11 % per annum compound interest. He repays Rs. 41,000 at the end of the first year & Rs. 47,700 at the end of the second year. Find the amount outstanding at the beginning of the third year.

• A. Rs. 20,000
• B. Rs. 25,000
• C. Rs. 33,000
• D. Rs. 30,000
• E. Rs. 36,000

Answer 1

The correct option is D

Rs. 30,000