CLEAR
Toprankers-Info

+91 7676564400

Mobile App

Get it on Google Play
Discussions
Select Date
Tags:

Articles

Discussions
Submit Discussion
PARMJEET

· started a discussion

· 1 Months ago

a (Question:163820.0)

2g

Question:

A sum of Rs. 7500 is to be paid back in 3 annual installments. How much is each installment, if the interest is compounded annually on the balance at 4% and is to be included in each installment?

Options:
A) Rs. 2800, Rs. 2700, Rs. 2600
B) Rs. 2900, Rs. 2800, Rs. 2700
C) Rs. 2800, Rs. 2750, Rs. 2600
D) Rs. 2900, Rs. 2700, Rs. 2600
Solution:

7500 รท 3 = 2500


For first year

                

2500 + 4% of 7500

= 2500 + 300 = 2800


For second year

= 2500 + 4% of 5000

= 2500 + 200 = 2700

For third year

2500 + 4% of 2500

2500 + 100 = 2600

-logo
We at aim to provide most comprehensive content & test for practice which is carefully divided into various chapters and topics to help you focus on your weak areas.Our Practice mock test gives you unmatched analytics to help you realize your strong areas,time management and improvement areas.Our Short & Crisp notes on each topic will help you to quickly revise the topic along with the tips & tricks of the exams.
More About
-Info
-Info

Mobile App

Get it on Google Play
About Us Campus Ambassador Careers Contact Us Refund Policy

All Rights Reserved Top Rankers

User Policy
Disclaimer
Terms & Conditions