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Questions and Answers
What is the amount of the yearly instalment for the loan?
What is the amount of the yearly instalment for the loan?
- Rs. 2,142,857 (correct)
- Rs. 2,500,000
- Rs. 3,156,319
- Rs. 3,000,000
What is the total interest paid over the seven years for the loan?
What is the total interest paid over the seven years for the loan?
- Rs. 1,500,000
- Rs. 1,200,000
- Rs. 2,100,000
- Rs. 2,500,000 (correct)
What is the outstanding balance after the fourth yearly instalment?
What is the outstanding balance after the fourth yearly instalment?
- Rs. 4,285,714 (correct)
- Rs. 5,000,000
- Rs. 6,500,000
- Rs. 1,500,000
