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CAT 2018 Interest — Previous Year Question

Year

CAT 2018

Section

Quantitative

Topic

Interest

Difficulty

Medium

Question

Slot-1

John borrowed Rs. 2,10,000 from a bank at an interest rate of 10% per annum, compounded annually. The loan was repaid in two equal instalments, the first after one year and the second after another year. The first instalment was interest of one year plus part of the principal amount, while the second was the rest of the principal amount plus due interest thereon. Then each instalment, in Rs., is:[TITA]

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