Poll Results
Please login to vote and see the results.
A man borrows Rs.21000 at 10% compound interest. How much he has to pay annually at the end of each year, to settle his loan in two years?
Share
Have an account? Sign In Now
Lost your password? Please enter your email address to get a reset link.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Explanation:
Principal = Rs.21000,
Rate = 10 %=110=11→Installment\10→Principal
Note: Installment will be equal in both cases. So equate the installment.
According to the question,
210 units = Rs. 21000
1 unit=Rs.21000\210 =Rs.100
121 units =121×100 =Rs. 12100