A loan is to be paid back in two equal annual instalments each of Rs. 2,523. If the rate of interest is 16% p.a., compounded yearly, then the total interest paid in this scheme is:

A loan is to be paid back in two equal annual instalments each of Rs.

1.	A loan is to be paid back in two equal annual instalments each of Rs. 2,523. If the rate of interest is 16% p.a., compounded yearly, then the total interest paid in this scheme is:
A.	Rs. 996
B.	Rs. 986
C.	Rs. 990
D.	Rs. 968
Answer» B. Rs. 986

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A loan is to be paid back in two equal annual instalments each of Rs. 2,523. If the rate of interest is 16% p.a., compounded yearly, then the total interest paid in this scheme is:

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