A man borrow RS.6000 at 5% C.I. per annum. If he repays RS.1200 at end of each year, find the amount of the loan outstanding at the beginning of the third year.

A man borrow RS.6000 at 5% C.I. per annum. If he repays RS.1200 at end

1.	A man borrow RS.6000 at 5% C.I. per annum. If he repays RS.1200 at end of each year, find the amount of the loan outstanding at the beginning of the third year.
Answer» A man borrow RS.6000 at 5% C.I. per annum. If he repays RS.1200 at end of each year, find the amount of the loan outstanding at the beginning of the third year.