Chapter 6: Instalments

Exercise -10

1. Flats are available for Rs. 5,50,000 cash or Rs. 42,750 cash down payment and three equal yearly instalments. The interest is charged at the rate of 8% p.a. compounded annually. Calculate the value of each instalment.

2. A loan of Rs.3,90,200 is to be paid back in three equal annual instalments. Find the instalment if the rate of interest is 4% p.a. compounded annually.

3. A loan has to pay in two equal half yearly instalments of Rs.4945 each. If the rate of interest is 15% p.a. compounded semi-annually, find the principal and the total interest paid.

4. A car is available for Rs.4,02,200 cash or for Rs.1,50,000 cash down payment and 3 equal half yearly instalments. Find the value of each instalment if the rate of interest is 10% p.a. compounded half yearly.

5. A T.V. set is available for Rs.19,650 cash payment or for Rs.3,100 cash down payment and three equal annual instalment. If the rate of interest is 10% p.a compounded annually, calculate the amount of each instalment.

6. A man borrowed Rs.12750 which is to be paid back in two equal half yearly instalments. If the interest is compounded half yearly at 8% per annum, how much is each instalment?

7. A loan of Rs.10815 is to be paid back in three equal half yearly instalment. If the interest is p.a. compounded half yearly find the each instalment.

8. A loan was returned in three equal quarterly instalments of Rs.17576 each. If the rate of interest is 16% p.a. compounded quarterly find the loan and the total interest charged.

9. Flats are available for Rs.30,00,000 cash or for Rs.10,31,600 cash down payment and three equal quarterly and three equal quarterly instalment. If the rate of interest is 10% p.a. compounded quarterly, find each instalment and also the total interest paid.

10. A person borrowed some money on compounded interest and returned it is three years in equal annual instalments. If the rate of interest is 15% p.a. and annual instalment is Rs.486680 find the sum borrowed.

11. A housing society charges for a flat Rs. 16,00,000 or Rs. 5,85,500 cash downpayment and htree equal half yearly instalments. If the society charged 16% p.a. compounded half yearly, calculate the value of each instalment and the total interest charged.