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Aptitude · Q26

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Competitive Exams · Aptitude · question 26

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
Answer

Answer: Option D

Solution

Answer: Option D
Solution:
As short - cut of installment for 2 installments is given by
Installment =
There is the need of rate (R) which is unavailable in the question.
so, we cannot determine the answer