Q26
What is the amount of equal installment, if a sum of Rs. 1428 due 2 years hence has to be completely repaid in 2 equal annual installments starting next year?.
A.
700
B.
800
C.
650
D.
cannot be determined
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
As short - cut of installment for 2 installments is given byInstallment =
There is the need of rate (R) which is unavailable in the question.
so, we cannot determine the answer