Mathematics · Compound Interest
A washing machine is available at ₹18,000 cash or for ₹7,600 cash down payment followed by two equal half-yearly instalments of ₹x each. If the rate of interest charged is 16% p.a. compounded half-yearly, then what is the value of x?
- 1₹5,832✓
- 2₹5,754
- 3₹5,864
- 4₹5,932
Correct answer
₹5,832
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