A sum of Rs.6,000 is to be paid back in two equal annual ins

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67

M: +2.00/-0.50

A sum of Rs.6,000 is to be paid back in two equal annual instalments; each instalment is to be paid at the end of every year. How much is each instalment if the interest is compounded annually at 2% p.a.? (Rounded off up to two decimal places)

[SSC CGL 2nd Dec 2022 Shift-1 With Answers]

A

Rs.3,090.30

B

Rs.2,092.29

C

Rs.3,589.30

D

Rs.2,291.29

EXPLANATION

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