Question
A sum of Rs.6,000 is to be paid back in two equal annual instalments; each instalment is to be paid at the end of every year. How much is each instalment if the interest is compounded annually at 2% p.a.? (Rounded off up to two decimal places)
More Simple and compound interest Questions
- A sum, when invested at 12(½)% simple interest per annum, amounts to ₹8,250 after 2 years. What is the simple interest?
- Amit invested a total of Rs. 14,000, dividing the amount between two schemes: one offering compound interest (compounded annually) and the other offering s...
- A man invested a certain amount of sum at 10% per annum simple interest and earned an interest of Rs. 3000 after 5 years. If the same amount is invested at...
- At what annual compound interest rate will a principal amount of Rs. 16,000 grow to Rs. 25,000 in 2 years?
- Ajay invested Rs.a in SI at 7% rate of interest per annum for 12 years. Vishal invested the same amount in SI at 5% rate of interest per annum for 8 years ...
- A man invested Rs. 7,000 at simple interest of 'x%' p.a. and received Rs. 14,000 after 2 years. If he had invested Rs. 80,000 at simple interest of 'x%' p....
- The difference between compound interest and simple interest at the same rate for Rs. 3600 for 2 years is Rs. 36. The rate of interest per annum is:
- A sum of money doubles itself in 5 years in how many years it will be 3 times?
- Ajay and Vijay jointly invest an amount 'x' in a simple interest scheme for 4 years. Ajay contributes 40% of 'x' at an interest rate of 7% per annum, while...
- The certain sum amounts to Rs 9,982.50 in 2(1/2) years at 12% p.a., interest compounded 10-monthly. The sum (in Rs) is:
Relevant for Exams:
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
