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Manisha Poddar

· started a discussion

· 1 Months ago

formula (Question:121789.0)

plz provide formula for solving this question.

Question:

A sum of Rs 550 was taken as a loan. This is to be repaid In two equal annual Installments. It the rate of Interest is compounded 20% annually, then the value of each Installment is

Options:
A) Rs 486
B) Rs 456
C) Rs 360
D) Rs 250
E) Rs 320
Solution:
Ans: (c) Let each installment = x

550 = \(\cfrac{x}{(1+\cfrac{20}{100})}\)+\(\cfrac{x}{(1+\cfrac{20}{100})^2}\)

\(\Rightarrow\)550 = \(\cfrac{x}{(\cfrac{120}{100})}\)+ \(\cfrac{x}{(\cfrac{120}{100}×\cfrac{120}{100})}\)

\(\Rightarrow\)550 = \(\cfrac{10x}{12}\)+ \(\cfrac{100x}{144}\)
= 550 = \(\cfrac{120x + 100x}{144}\)

\(\Rightarrow\)\(\cfrac{550×144}{220}\)   = x = 360 

Alternate solution :


Knowledge Expert

· commented

· 1 Months ago

Dear student
Given answer is correct
we are provide you alternate solution for more understand,

Best wishes
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