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A sum of Rs. 210 was taken as a loan. This is to be paid back in two equal installments. If the rate of interest be 10% compounded annually, then the value of each installment is
  • a)
    Rs.127
  • b)
    Rs.121
  • c)
    Rs.210
  • d)
    Rs.225
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
A sum of Rs. 210 was taken as a loan. This is to be paid back in two ...
Let x be the value of installment.
Principal = Present value of x for 1 year + Present value of x for 2 years
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A sum of Rs. 210 was taken as a loan. This is to be paid back in two equal installments. If the rate of interest be 10% compounded annually, then the value of each installment isa)Rs.127b)Rs.121c)Rs.210d)Rs.225Correct answer is option 'B'. Can you explain this answer?
Question Description
A sum of Rs. 210 was taken as a loan. This is to be paid back in two equal installments. If the rate of interest be 10% compounded annually, then the value of each installment isa)Rs.127b)Rs.121c)Rs.210d)Rs.225Correct answer is option 'B'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about A sum of Rs. 210 was taken as a loan. This is to be paid back in two equal installments. If the rate of interest be 10% compounded annually, then the value of each installment isa)Rs.127b)Rs.121c)Rs.210d)Rs.225Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of Rs. 210 was taken as a loan. This is to be paid back in two equal installments. If the rate of interest be 10% compounded annually, then the value of each installment isa)Rs.127b)Rs.121c)Rs.210d)Rs.225Correct answer is option 'B'. Can you explain this answer?.
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