A man borrows Rs. 4000 from a bank at 71/2% compound interest.

A man borrows Rs. 4000 from a bank at 7¹/₂% compound interest. At the end of every he pays Rs. 1500 as part repayment of loan and interest. How much does he still owe to the bank after there such installments ?

Balance = Rs.[{4000 x (1 x 15/2 x 100)³} - {1500 x (1 + 15/2 x 100)² + 1500 x (1 + 15/2 x 100) + 1500}]
= Rs. 123.25