Mathematics · Compound Interest
Amit borrowed Rs. 11,000 from a friend. This was to be repaid in 2 equal yearly installments at a rate of interest of 20% compounded annually. What would be the value of each installment?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 7,200✓
- 2Rs. 8,200
- 3Rs. 6,500
- 4Rs. 6,200
Correct answer
Rs. 7,200
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