A man borrowed 12000 for 4 yr at 73/4 per annum and a year later he again borrowed another 12000 for 3 yr at the same rate. How much should he pay at the end to settle the loans ?

A man borrowed 12000 for 4 yr at 73/4 per annum and a year later he

1.	A man borrowed 12000 for 4 yr at 73/4 per annum and a year later he again borrowed another 12000 for 3 yr at the same rate. How much should he pay at the end to settle the loans ?
A.	30510
B.	28610
C.	31450
D.	29590
Answer» B. 28610

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A man borrowed 12000 for 4 yr at 73/4 per annum and a year later he again borrowed another 12000 for 3 yr at the same rate. How much should he pay at the end to settle the loans ?

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