Question
Quantitative Aptitude Question on SI & CI
A loan of Rs. 6000 is to be paid back in three equal installments. Find the value of each installment to the nearest whole rupee, if the interest is compounded annually at 12.5%.
A
Rs.2240
B
Rs.2519
C
Rs.2521
D
Rs. 2915
E
None of these
Answer
Rs. 2915
Explanation
Solution
The correct option is (D): Rs. 2915.