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A farmer has taken a loan from Kidar Co. for INR 100. Kidar Co. told the farmer that he can take INR 100 today but
A farmer has taken a loan from Kidar Co. for INR 100. Kidar Co. told the farmer that he can take INR 100 today but will have to pay the company INR 110 after 30 days. If the farmer was not able to pay off the loan for over a year, what is the amount he is supposed to pay to Kidar Co. Interest is compounded every 30 days (Take 1 year has 360 days). (Answer rounded to the nearest integer in INR)
Select one:
a. 1238
b. None of the above
c. 769
d. 314
e. 400
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