arrow
arrow
arrow
A sum of Rs.16400 is borrowed to be paid back in 2 years by equal payments allowing 5% Compound Interest. Find the annual payment.
Question

A sum of Rs.16400 is borrowed to be paid back in 2 years by equal payments allowing 5% Compound Interest. Find the annual payment.

A.

Rs.7590

B.

Rs.8820

C.

Rs.7495

D.

Rs.7600

Correct option is B

Given: 

total amount = Rs. 16400 

Solution:

total amount 820 unnit  = Rs . 16400 

1 unit  = 20 

then the installment of every year = 441×\times 20 = 8820

Free Tests

Free
Must Attempt

CBT-1 Full Mock Test 1

languageIcon English
  • pdpQsnIcon100 Questions
  • pdpsheetsIcon100 Marks
  • timerIcon90 Mins
languageIcon English
Free
Must Attempt

RRB NTPC Graduate Level PYP (Held on 5 Jun 2025 S1)

languageIcon English
  • pdpQsnIcon100 Questions
  • pdpsheetsIcon100 Marks
  • timerIcon90 Mins
languageIcon English
Free
Must Attempt

CBT-1 General Awareness Section Test 1

languageIcon English
  • pdpQsnIcon40 Questions
  • pdpsheetsIcon30 Marks
  • timerIcon25 Mins
languageIcon English

Similar Questions

test-prime-package

Access ‘RRB JE CBT-I’ Mock Tests with

  • 60000+ Mocks and Previous Year Papers
  • Unlimited Re-Attempts
  • Personalised Report Card
  • 500% Refund on Final Selection
  • Largest Community
students-icon
353k+ students have already unlocked exclusive benefits with Test Prime!
Our Plans
Monthsup-arrow