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?
Given:
Principal (P) = Rs. 21,000
Rate of Interest (R) = 10% per annum
Number of Instalments (n) = 2
Formula Used:
P =
Solution:
Substituting the values:
x = Rs. 12,100
Thus, Each instalment is Rs.12,100
Alternate Solution:
Rate of interest = 10% =
210 unit = 21000
so, 121 unit =
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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?
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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.
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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:
