Aptitude Test for Software Developers

Q.  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: See Answer
 
No explanation is available for this question!
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