Question

A sum of rs. 210 was taken as a loan. This is to be paid back in two equal installments. If the rate of interest be 10% compounded annually, then the value of each installment is

Answer 1

Explanation:

21. A sum of money is borrowed and paid back in two annual instalments of Rs. 882 each allowing 5% compound interest. The sum borrowed was:

A. Rs.1820 B. Rs.1640

C. Rs.1260 D. Rs.1440