Raj borrowed Rs. 8000 for 180 days at 5% interest. On the 90th day he makes a partial payment of Rs. 2500. What will be the adjusted principal on the maturity date?
A. Rs. 2500
B. Rs. 8000
C. Rs. 5600
D. None of the above
Answer:C
Raj borrowed Rs. 8000 for 180 days at 5% interest. On the 90th day he makes a partial payment of Rs. 2500. What will be the adjusted principal on the maturity date?
A. Rs. 2500 B. Rs. 8000 C. Rs. 5600 D. None of the above