Mathematics · Compound Interest
A man borrows ₹2,196 and agrees to return it with compound interest at the rate of 25% per annum in three equal annual instalments at the end of the first, second and third year. The amount of each instalment (in ₹) is:
- 11,125✓
- 2984
- 3732
- 41,072
Correct answer
1,125
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