How much should be the annual installment to completely pay off a debt – McqOptions

MCQOPTIONS

1.	How much should be the annual installment to completely pay off a debt of Rs. 1078 in 6 years at 9% per annum rate of interest?
A.	Rs.146.35
B.	Rs.156.25
C.	Rs.126.55
D.	Rs.118.35
Answer» B. Rs.156.25

Discussion

No Comment Found

Related MCQs

At what rate percent of simple interest will a sum of money double itself in 12 years?
A sum of money lent out at S.I. amounts to Rs. 720 after 2 years and to Rs. 1020 after a further period of 5 years. The sum is?
A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is?
Nitin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs. 8160, how much money did he borrow?
A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is?
An automobile financier claims to be lending money at S.I., but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes?
Rs. 800 becomes Rs. 956 in 3 years at a rate of S.I. If the rate of interest is increased by 4%, what amount will Rs. 800 become in 3 years?
A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9% p.a. in 5 years. What is the sum?
A man took loan from a bank at the rate of 12% p.a. S.I. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was?
What is the present worth of Rs. 132 due in 2 years at 5% simple interest per annum?