Multiple Choice Questions on A sum of rupees 6300 has been borrowed it is to be repaid in two equal installments if the rate........... for CDS Exam Preparation

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Multiple Choice Questions

A sum of rupees 6300 has been borrowed it is to be repaid in two equal installments if the rate...........

Quantitative Aptitude (CDS) Compound Interest
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    A sum of rupees 6300 has been borrowed. it is to be repaid in two equal installments.  if the rate of compound interest is 10% per annum, which is added annually,  then what is the value of each installment?

    4840

    Incorrect Answer

    5520

    Incorrect Answer

    3630

    Correct Answer

    8470

    Incorrect Answer
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    Explanation:

    P1 and P2  are equal installments.

    x=P1(1+10/100)    or P1=10x/11

    x=P2(1+10100)^2.   or P2=100x/121

    Now P1 +P2 =6300

    Then, 10x/11 +100x/121 =6300   or X=3630.

    By: bhavesh kumar singh
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