A man borrows 6000 at 5% interest, on reducing balance, at the st… | XAT 2012 Question Paper

XAT 2012Quantitative AbilityInterestMEDIUM+1 / −0.25

A man borrows 6000 at 5% interest, on reducing balance, at the start of the year. If he repays 1200 at the end of each year, find the amount of loan outstanding, in , at the beginning of the third year.

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XAT 2012Quantitative AbilityInterestMEDIUM+1 / −0.25

Select an option to reveal the answer and explanation

Practice the full paper

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