A sum of ₹32,760 was taken as a loan. This is to be paid in three equal annual instalments. If the rate of interest is 20% compounded annually, then the value of each instalment is:
Given:
Amount taken as loan = ₹32,760
Instalment =3
Rate of interest = 20%
Formula Used:
In case of compound interest
Borrowed money =
Solution:
Let the instalment be x
Alternative Method:
5 6 36
25 36 6
125 216
180 216
150 216
125 216
Total
455 216
455 is equivalent to principle and 216 is the instalment
Now 455 = 32760
English
80 Questions
160 Marks
60 Mins English English80 Questions160 Marks60 Mins English English20 Questions40 Marks25 Mins EnglishA loan of ₹21600 is to be paid back in two equal annual instalments. If the rate of interest is 16% p.a. compounded yearly, then the total interest charged is
A sum of Rs. 21,000 is borrowed at a rate of 10% p.a. compound interest compounded yearly. It is returned in two equal annual instalments What is the amount of each installment?
A man buys a scooter on making a cash payment of ₹16,224 and promises to pay two more yearly instalment of equivalent amount in the next two years. If the rate of interest is 4% per annum compounded yearly, what is the cash value of the scooter?
A sum of Rs.12,300 was taken as a loan. This is to be paid back in two equal annual instalments. If the rate of interest be 5% per annum, compounded annually, find the value of each instalment.
An annual instalment of ₹2,200 will discharge a debt of ₹ y due in 3 years at 14.5% simple interest per annum. What is the value of y? (Note: instalments will be paid at the end of year 1, year 2 and year 3.)
Rashid borrowed a sum of ₹30,240 at 10% p.a., interest compounded annually. If the amount is to be paid back in two equal annual instalments, then the interest paid by him is:
Rs. 3000 was divided and given on loan at interest rates of 11% and 12% p.a. for one year.
Total interest earned at the end of the 1st year is Rs. 348. Find the amount let out with 12% interest.
A sum of ₹32,760 was taken as a loan. This is to be paid in three equal annual instalments. If the rate of interest is 20% compounded annually, then the value of each instalment is:
Suggested Test Series
Suggested Test Series
A loan of ₹21600 is to be paid back in two equal annual instalments. If the rate of interest is 16% p.a. compounded yearly, then the total interest charged is
A sum of Rs. 21,000 is borrowed at a rate of 10% p.a. compound interest compounded yearly. It is returned in two equal annual instalments What is the amount of each installment?
A man buys a scooter on making a cash payment of ₹16,224 and promises to pay two more yearly instalment of equivalent amount in the next two years. If the rate of interest is 4% per annum compounded yearly, what is the cash value of the scooter?
A sum of Rs.12,300 was taken as a loan. This is to be paid back in two equal annual instalments. If the rate of interest be 5% per annum, compounded annually, find the value of each instalment.
An annual instalment of ₹2,200 will discharge a debt of ₹ y due in 3 years at 14.5% simple interest per annum. What is the value of y? (Note: instalments will be paid at the end of year 1, year 2 and year 3.)
Rashid borrowed a sum of ₹30,240 at 10% p.a., interest compounded annually. If the amount is to be paid back in two equal annual instalments, then the interest paid by him is:
Rs. 3000 was divided and given on loan at interest rates of 11% and 12% p.a. for one year.
Total interest earned at the end of the 1st year is Rs. 348. Find the amount let out with 12% interest.
A sum of ₹32,760 was taken as a loan. This is to be paid in three equal annual instalments. If the rate of interest is 20% compounded annually, then the value of each instalment is:
