Question

    Rajni borrowed Rs. 1,500 from a bank and repaid the

    entire amount with interest in two equal annual installments, the first instalment being paid a year after Rajnish borrowed from the bank. If the rate of interest was 40% per annum, compounded annually, then what was the value (in Rs.) of each instalment paid by Rajni.
    A 1350 Correct Answer Incorrect Answer
    B 1275 Correct Answer Incorrect Answer
    C 1225 Correct Answer Incorrect Answer
    D 1175 Correct Answer Incorrect Answer

    Solution

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