Solved UPSC CDS/OTA Question
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Q · InstallmentsModerate · 45s
A man buys a scooter on making a cash down payment of 16224 and promises to pay two more yearly installments of equivalent amount in next two years. If the rate of interest is 4% per annum, compounded yearly, the cash value of the scooter, is
TopicInstallments
Question Typemultiple choice
DifficultyModerate
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
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Final Answer: Option B - 46824