An amount of Rs. 4,000 is borrowed at the interest rate of 7.5% (compounded annually). As a part of repayment, Rs. 1,500 is paid in three instalments. The remaining amount that is to be paid to clear the debt after three instalments is:
1
Rs. 123.25
2
Rs. 440.00
3
Rs. 250.00
4
Rs. 500.00