ibps-so 2016 · Question 300 of 394

A consumer durable loan of ₹3,31,000 was sanctioned by a branch upon the terms that it should be repaid in three equal annual instalments, the rst falling due one year after the date of the advance, and that interest should be charged at 10 per cent per annum compounded yearly upon so much of the principal as remained outstanding from time to time. What is the amount of each instalment?

1. A₹1,21,000
2. B₹1,27,500
3. C₹1,33,100Correct
4. D₹1,36,400
5. E₹1,10,333