A man borrowed Rs. 4,00,000 from a bank at 10% per annum, compounded annually. At the end of every year he paid Rs. 1,50,000 as part payment of the loan and interest. How much did he still owe the bank after three such instalments?
1
Rs. 30,900
2
Rs. 32,800
3
Rs. 31,600
4
Rs. 35,900