A person borrow Rs3000 for 3y at 30% Cl rate he returned Rs1000 at end

1.	A person borrow Rs3000 for 3y at 30% Cl rate he returned Rs1000 at end of each year howmuch he should deposit after 3y to clear his debt?
Answer» Step-by-step explanation: For this kind of PROBLEMS, we can use Excel to tabulate our workings. By this WAY, we can easily arrive at the answer. To clear all his dues, he should pay the outstanding Rs. 1,683/- at the END of 3rd year. (Assuming there are no Loan foreclosure charges about which Question remains silent but it’s many a TIMES mentioned in the FINE print somewhere unless it exclusively says that there would be no foreclosure charges for the Loan)

A person borrow Rs3000 for 3y at 30% Cl rate he returned Rs1000 at end of each year howmuch he should deposit after 3y to clear his debt?

Answer»

Step-by-step explanation:

For this kind of PROBLEMS, we can use Excel to tabulate our workings.

By this WAY, we can easily arrive at the answer.

To clear all his dues, he should pay the outstanding Rs. 1,683/- at the END of 3rd year. (Assuming there are no Loan foreclosure charges about which Question remains silent but it’s many a TIMES mentioned in the FINE print somewhere unless it exclusively says that there would be no foreclosure charges for the Loan)

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A person borrow Rs3000 for 3y at 30% Cl rate he returned Rs1000 at end of each year howmuch he should deposit after 3y to clear his debt?​

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A person borrow Rs3000 for 3y at 30% Cl rate he returned Rs1000 at end of each year howmuch he should deposit after 3y to clear his debt?