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Question

Quantitative Aptitude:

A man borrows ₹ 2,000 at 10% compound interest. If he repays ₹ 500 at the end of each year, then the amount of loan out standing at the beginning of the third year is equal to?

  • ₹ 1,300
  • ₹ 1,340
  • ₹ 1,370
  • ₹ 1,400
  • None of these
Answer- C


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