# Numerical - Time value of money - Annual installments on loan

**Q. 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.***- Published on 04 Sep 15***a.** Rs 19500

**b.** Rs 19400

**c.** Rs 19310

**d.** None of the above

**ANSWER: Rs 19310**