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Installments · UPSC CDS/OTA · Question 31 of 51

Installments: A builder borrows 2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal yearly installments. How much will each instalment be ?

Step-by-step solution. Installments for UPSC CDS/OTA.

Topic
Installments
Subject
Mathematics
Difficulty
Difficult
Solve Time
45-60 sec

Solved UPSC CDS/OTA Question

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Q · InstallmentsDifficult · 45s

A builder borrows 2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal yearly installments. How much will each instalment be ?

TopicInstallments
Question Typemultiple choice
DifficultyDifficult
Marking+1 / −0.33
Test Duration30 min

Step-by-Step Solution

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Solution illustration 1
Final Answer: Option A - 1352
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A builder borrows 2550 to be paid back with compound… - Installments (Mathematics) Solved Question