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suraj rajput

· started a discussion

· 1 Months ago

ci (Question: 102929.0 )

how is it

Question:
A sum is to be paid back in 3 equal annual instalments. The interest is compounded annually at 15% per annum. If each instalment be \(\unicode{x20B9} \)24334 then what is the sum?
Options:
A) \(\unicode{x20B9} \)56560 
B) \(\unicode{x20B9} \)55560
C) \(\unicode{x20B9} \)57560 
D) \(\unicode{x20B9} \)58560
E) None of these
Solution:

ARCHANA SONONE

· commented

· 1 Months ago

@kanhaiya jha......ur solutions r far better than TR's............thnx a lot...............u olways take much efforts 2 gv ur solution step wise step n neatly n ful xplanatipns

kanhaiya jha

· commented

· 1 Months ago

Principal = Amount x {100/(100+r%)}

Here, amount=installment=Rs.24334/-(Given)
On the first installment he will get interest of two years, on second installment he will get interest of one year and in last installment there is no interest applicable..
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