-->

Compound Interest: Installments

1. A person borrowed a sum of Rs 6000 at 10% p.a., interest compounded annually. If the money is to be repaid in three equal annual installment, each payable at the end of the year, then what is the value of each installment?
a. Rs.2,000
b. Rs.2,413
c. Rs.2,314
d. Rs.2,662


2. Three equal installment, each of Rs 200, were paid at the end of year on a sum borrowed at 20% compound interest compounded annually. Find the sum.
a. Rs. 600
b. Rs. 400
c. Rs. 421.30
d. Rs 432.10


3. A man borrows a certain sum of money and pays it back in 2 years in two equal installments. If C.I. is reckoned at 5% per annum and he pays back annually Rs. 441, what sum did he borrow?
a. Rs. 820
b. Rs. 800
c. Rs. 882
d. Rs. 850


4. A man borrows Rs. 2100 and undertakes to pay back with compound interest @ 10% p.a. in 2 equal yearly installments at the end of first and second year. What is the amount of each installment?
a. 1200
b. 1210
c. 1300
d. 1310


5. A man borrows Rs. 820 and undertakes to pay back with compound interest @ 5% p.a. in 2 equal yearly installments at the end of first and second year. What is the amount of each installment?
a. 400
b. 420
c. 441
d. 410


6. A man borrows Rs. 1820 and undertakes to pay back with compound interest @ 20% p.a. in 3 equal yearly installments at the end of first, second and third years. What is the amount of each installment?
a. 864
b. 850
c. 820
d. 900


7. A sum of Rs.550 was taken a loan. This is to be repaid in two equal annual installments. If the rate of interest be 20% compounded annually, then the value of each installment is :
a. Rs.421
b. Rs.396
c. Rs.360
d. Rs.350


8. A loan was repaid in two annual instalments of Rs.112 each. If the rate of interest be 10% per annum compounded annually, the sum borrowed was :
a. Rs.200
b. Rs.210
c. Rs.217.80
d. Rs.280