📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    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)
    A Rs.2,291.29 Correct Answer Incorrect Answer
    B Rs.3,090.30 Correct Answer Incorrect Answer
    C Rs.3,589.30 Correct Answer Incorrect Answer
    D Rs.2,092.29 Correct Answer Incorrect Answer

    Solution

    The correct answer is B

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question