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A GANGADHARA RAO

· started a discussion

· 1 Months ago

Dont understand by me (Question:125741.0)

I want step by step explaination

Question:

A sum of Rs 45500 is to be paid back in 3 equal annual installment. How much is each installment if the interest is compounded annually at 20% per annum?

Options:
A)

Rs 21600

B)

Rs 21700

C)

Rs 21800

D)

Rs 21900

E)

None of these

Solution:


Ans: (a)

P=\(\cfrac{X}{\big( 1 + \cfrac{r}{100} \big)}\)

EQUAL INSTALLMENTS


P=\(\cfrac{X}{\big( 1 + \cfrac{r}{100} \big)\big( 1+\cfrac{r}{100}\big)^2\big(1+\cfrac{r}{100}\big)^3}\)



\(\cfrac{45500}{\cfrac{5}{6} + \cfrac{25}{36} + \cfrac{125}{216}}\)

= \(\cfrac{45500 × 216}{455}\)

= Rs. 21600

Knowledge Expert

· commented

· 1 Months ago

Dear student,
We have updated the solution.
Keep learning,
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