Loan repaid in equal annual instalments at compound interest: each instalment
The same question, asked 2 times: CDS 1 2017*, CDS 2 2025. Every wording below, oldest first.
Try each one first, then open its answer.
Question 1
CDS 1 2017
26A sum of Rs. 8,400 was taken as a loan. This is to be paid in two equal instalments. If the rate of interest is 10% per annum, compounded annually, then the value of each instalment isTap an option to check your answer.
Question 2
CDS 2 2025
58An amount of Rs. 10,000 is borrowed at per annum on compound interest for 3 years, compounded annually, and paid back in 3 equal annual installments during these years. What is the amount of each installment (approximately)?Tap an option to check your answer.