Compound Interest Practice Test 5

© examsiri.com

Question : 22 of 40

Marks: +1, -0

If a sum of Rs 30,000 is to be paid in two equal installments at

8 1/3%

per annum, find the amount paid in each installment?

Rs 19,600
Rs 18,900
Rs 16,900
Rs 16,980
Rs 19,625

Solution:

Amount

=P/{ (100/{100+R})+(100/{100+R})^2}

=30000/{(100/{100+25/3})+(100/{100+25/3})^2}

=16900

© examsiri.com

Go to Question:

Prev Question

Next Question