Arithmetichard · Past Paper
A man borrows Rs. 21000 at 10% CI. He pays it back in 2 equal annual installments. Find the amount of each installment.
ARs. 12000
BRs. 12100
CRs. 11000
DRs. 11500
✓ Correct Answer: B — Rs. 12100
P = X/(1+R/100) + X/(1+R/100)^2. 21000 = X(10/11 + 100/121) => X = 12100.
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