A sum of Rs 8 400 was taken as a loan This is to be paid in two equal instalments If the rate o...........

Quantitative Aptitude (CDS) Compound Interest

A 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 is

Rs. 4,200

4,480

Rs. 4,840

None of the above

छोटे Courses बड़े Results

Master Compound Interest

Prepare through Micro-courses

Try Now

Explanation:

$P= \frac{x}{(1+\frac{R}{100})}+\frac{x}{(1+\frac{R}{100})^{2}}$
$=> 8400=\frac{x}{\frac{11}{10}}+\frac{x}{\frac{121}{100}}$
$=> 8400=\frac{10x}{11}+\frac{100x}{121}$
Solving we get,
x = 4840