A builder borrows Rs 2550 to be paid back with compound interest at the rate of 4 per annum at the e...........

Quantitative Aptitude (CDS) Compound Interest

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

1377

1283

1275

1352

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Explanation:

P =2550
rate %=4%=1/25
Time =2years
Principal installment
1st 25*26. 676
2nd. 625. 676
NOTE:- installment will be same
I unit =2550/1275
676 unit =2550/1275 *676
Rs 1352