1)A man borrowed Rs.25000 from a bank at 20% compound interest. At the end of every year he paid Rs.8000. At the end of third year, if he wants to clear his loan then how much should he pay?
(a) Rs.12400 (b) Rs.16040
(c) Rs.20800 (d) Rs.22080
2) Rajesh borrowed Rs.21000 at the rate of 10% p.a. compound interest. If the amount has to be repaid in two equal installments, find the value of each installment.
(a) Rs.11000 (b) Rs.11500
(c) Rs.12100 (d) Rs.12500