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Installments · UPSC CDS/OTA · Question 33 of 51

Installments: A sum of Rs. 9960 was borrowed at 15/2% per annum compound interest and paid back in two years in two equal annual installments. What was the amount of each installment?

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

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

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Q · InstallmentsModerate · 45s

A sum of Rs. 9960 was borrowed at 15/2% per annum compound interest and paid back in two years in two equal annual installments. What was the amount of each installment?

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

Step-by-Step Solution

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Solution illustration 1
Final Answer: Option B - 5547
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A sum of Rs. 9960 was borrowed at 15/2% per annum… - Installments (Mathematics) Solved Question