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?

Amit gave his friend Rs. 11000. This loan was to be repaid in 3 yearly

1.	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?
A.	Rs. 3666.67
B.	Rs. 5221.97
C.	Rs. 5000
D.	Rs. 4528.69
Answer» C. Rs. 5000

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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?

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