A man purchased a house valued at ₹3,00,000. He paid ₹ 2,00,000 at the time of purchase and agreed to pay the balance with interest at 12% per annum…
CA Foundation · Quantitative Aptitude · MTP · January 2025
A man purchased a house valued at ₹3,00,000. He paid ₹ 2,00,000 at the time of purchase and agreed to pay the balance with interest at 12% per annum compounded half yearly in 20 equal half yearly instalments. If the first instalment is paid after six months from the date of purchase then the amount of each instalment is.
Suggested Answer and Working Notes:
Correct Answer: Option (A)
A. ₹ 8,718.45
Topics: Part-A: Business Mathematics
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