Arithmetichard · Past Paper
A man borrows Rs. 21000 at 10% CI. He pays it back in 2 equal annual installments. Find the amount of each installment.
ARs. 12000
BRs. 12100
CRs. 11000
DRs. 11500
✓ Correct Answer: B — Rs. 12100
P = X/(1+R/100) + X/(1+R/100)^2. 21000 = X(10/11 + 100/121) => X = 12100.
Share this question
More from Arithmetic
- Unit of time (T) in standard interest formulas is usually:
- A sum of money is divided among A, B, C in the ratio 3:5:7. If C's share is Rs 1600 more than A's share, find B's share.
- A sum of money amounts to Rs 1260 in 2 years and Rs 1350 in 3 years at simple interest. Find the rate of interest.
- The difference between compound interest and simple interest on a sum for 3 years at 10% per annum is Rs 31. Find the sum.
- By selling an article for Rs. 240, a man incurs a loss of 10%. At what price should he sell it so that he makes a profit of 20%?