Exams › SSC CGL (Prelims) › Maths

A sum of ₹210 was taken as a loan. It is to be paid back in two equal instalments. If the rate of interest is 10% compounded annually, then the value of each instalment is:

1. ₹ 127
2. ₹ 121
3. ₹ 210
4. ₹ 225

Correct answer: ₹ 121

Solution

The present value of the two equal instalments must equal the loan amount. So \(\frac{x}{1.1}+\frac{x}{1.21}=210\), which gives \(x=121\).

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