SICI Actual Question in CAT 2023 Slot - 2

Q. Anil borrows Rs 2 lakhs at an interest rate of 8% per annum, compounded half-yearly. He repays Rs 10320 at the end of the first year and closes the loan by paying the outstanding amount at the end of the third year. Then, the total interest, in rupees, paid over the three years is nearest to

1. 40991
2. 51311
3. 33130
4. 45311

EXPLANATION

Ans 2