Raman took a loan of Rs. 15000 from Laxman. He was agreed that for the first three years rate of interest charged woul

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Q 2452791634.     Raman took a loan of Rs. 15000 from Laxman. He was agreed that for the first three years rate of interest charged
would be at 8% Simple Interest per annum and at 10% Compound Interest (compounded, annually) from the
fourth year onwards. Ram did not pay anything until the end of the fifth year. How much would he repay if he clears
the entire amount, only at the end of fifth year ? (inRs.)
IBPS-CLERK 2016 Mains
A

Rs. 22506

B

Rs. 22105

C

Rs. 22900

D

Rs. 22500

E

Rs. 22450

HINT


Solution
(Provided By a Student and Checked/Corrected by EXXAMM.com Team)

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