A loan of ₹2,200 is to be repaid in two equal annual instalments at 20% per annum compound interest. What is each instalment?

A. ₹1320

B. ₹1400

C. ₹1100

D. ₹1440

Doubtly AI Asked 27 Oct 2026 AI-generated · not yet verified ssc cgl Save WhatsApp Report

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Answer: D. ₹1440

Answer: (D) ₹1440

The present values of the instalments add up to the loan: \(\frac{x}{1.2} + \frac{x}{1.2^2} = 2200\).

\(x \times \frac{1.2 + 1}{1.44} = 2200\), so x = 2200 × 1.44 ÷ 2.2 = ₹1440.

Doubtly AI · 27 Oct 2026 AI-generated · not yet verified Report

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