Mathematics · Compound Interest
A man borrows ₹13,000 to be paid back with compound interest at a rate of 8% per annum compounded annually by the end of 2 years in two equal yearly installments. How much will each installment be?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹7,250
- 2₹7,290
- 3₹7,725✓
- 4Scale: ₹7,500
Correct answer
₹7,725
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