A man borrows Tk.600 from a corporation at 3% interest per annum. He repays Tk. 200 at the end of each year. How much does he still owe after the third repayment

A man borrows Tk.600 from a corporation at 3% interest per annum. He repays Tk. 200 at the end of each year. How much does he still owe after the third repayment

A Tk. 45.37

B Tk. 54.37

C Tk. 37.46

D Tk. 62.45

Solution

Correct Answer: Option C