Compound Interest - Quantitative Aptitude (MCQ) questions for Q. 28551

Q.  Amit gave his friend Rs. 11000. This loan was to be repaid in 3 yearly installments with a rate of interest of 20% compounded annually. How much would be the value of each installment?
- Published on 15 Mar 17

a. Rs. 3666.67
b. Rs. 5221.97
c. Rs. 5000
d. Rs. 4528.69

ANSWER: Rs. 5221.97
 
compound interest

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