Rajeev took $27200 as a loan which along with interest is to be repaid in two equal annual installments If the rate of interest 12½% is compounded annually then the value of each installment
A) $15600
B) $16200
C) $12400
D) $18700
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Loan amount - It has to be between Rs 50,000 and Rs 30 lakh
Tenure - The tenure has to be between 1 year and 5 years.
Interest rate - It has to be between 1 percent and 50 percent.
Interest rates may vary across lenders as different lenders may offer loans at different rates. For the interest rate, input the rate at which your lender is providing you the loan.
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