Mr. X takes a loan of Rs 50,000 from HDFC Bank. The rate of interest is 10% per annum. The first installment will be paid at the end of year 5. Determine the amount of equal annual installments if Mr. X wishes to repay the amount in five installments.

Mr. X takes a loan of Rs 50,000 from HDFC Bank. The rate of interest i

1.	Mr. X takes a loan of Rs 50,000 from HDFC Bank. The rate of interest is 10% per annum. The first installment will be paid at the end of year 5. Determine the amount of equal annual installments if Mr. X wishes to repay the amount in five installments.
A.	Rs 19500
B.	Rs 19400
C.	Rs 19310
D.	None of the above
Answer» D. None of the above