Mathematics · Simple Interest and Installments
A renovation loan of Rs. 15,000 is returned in two equal half-yearly installments at a simple interest rate of 12% per annum. Calculate each installment approximately.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 7,925
- 2Rs. 8,400
- 3Rs. 7,500
- 4Rs. 8,152✓
Correct answer
Rs. 8,152
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