Anu borrowed Rs 800 at rate of interest 10 He repaid Rs 400 at the end of first year What is the amo...........

Quantitative Aptitude ( CCS) Compound Interest

Anu borrowed Rs.800 at rate of interest 10% . He repaid Rs.400 at the end of first year.What is the amount required to repay at the end of second year to discharge his loan which was calculated at compound interest?

Rs.650

Rs.528

Rs.490

Rs.780

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Explanation:

Amount paid at the end of 1 year = 800[1 + 10/100] = 880
Amount left as principal for the second year = 880-400 = 480
Amount to be paid after 2^nd year = 480 [1 + 10/100] = Rs.528

Hence, option 2 is the correct answer.

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