A person borrows ₹58,400 at 20% compound interest per year, compounded annually. At the end of every year, he pays ₹2,300 as part payment. How much does he…
A person borrows ₹58,400 at 20% compound interest per year, compounded annually. At the end of every year, he pays ₹2,300 as part payment. How much does he still owe after two such installments?
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Correct answer: (A) ₹79,036