Find out the value of each installment:

A sum of 550 was taken as loan. This is to be paid back in two equal installments. If the rate of interest be 20 % compounded annually, then the value of each installment is:

  1. 567
  2. 639
  3. 360
  4. 1200


Monis Rasool Professor Asked on 25th October 2015 in Maths.
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  • 1 Answer(s)

    Answer: (3) 360 

    Anurag Mishra Professor Answered on 11th April 2016.
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