Management Accounting Test Questions
Q. Mr. X takes a loan of Rs 50,000 from HDFC Bank. The rate of interest is 10% per annum. The first installment will be paid at the end of year 5. Determine the amount of equal annual installments if Mr. X wishes to repay the amount in five installments.
a. Rs 19500
b. Rs 19400
c. Rs 19310
d. None of the above
No explanation is available for this question!
