John borrows a loan of ₹ 10,000 from a bank and he agreed to pay back in 24 equal instalments at the rate of 10% compound interest per annum. Then…

CA Foundation · Quantitative Aptitude · PYQS · January 2025
John borrows a loan of ₹ 10,000 from a bank and he agreed to pay back in 24 equal instalments at the rate of 10% compound interest per annum. Then each instalment amount is (Given that (1.1) 24 = 9.84973)
(A) A. ₹ 1,112.99
(B) B. ₹ 1,200.35
(C) C. ₹ 1,211.99
(D) D. ₹ 1,321.56

Suggested Answer and Working Notes:

Correct Answer: Option (A)

A. ₹ 1,112.99

Topics: Part-A: Business Mathematics

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