online cat preparation time CAT Preparation - Simple Interest Compound Interest Question 01

Question: Krishna borrows Rs. 45K from a bank at 10% compound interest. He repays it in three annual installments that are in arithmetic progression. He ends up paying Rs. 54K totally. How much did he pay in year 1?

A) Rs. 16,500
B) Rs. 19,500
C) Rs. 21,000
D) Rs. 18,000

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online cat preparation time CAT Preparation - Simple Interest Compound Interest Question 01
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