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ARI GUIN

· started a discussion

· 1 Months ago

Please Explain the process (Question: 125399.0 )

Please Explain the process.

Question:
A sum of \(\unicode{x20B9} \)25500 is to be paid back in 2 equal annual installment. How much is each installment if the interest is compounded annually at 4% per annum?
Options:
A) \(\unicode{x20B9} \)13530
B) \(\unicode{x20B9} \)13570
C) \(\unicode{x20B9} \)13510
D) \(\unicode{x20B9} \)13520
Solution:
Ans: (d)

Amount = Rs 2550

Rate = 4% per annum

Time = 2 years

Applying the formula

P = \(\left ( \cfrac {X}{\cfrac{1+r}{100}}\right )^n+.....\left ( \cfrac {X}{\cfrac{1+r}{100}}\right )\)

Here we have two equal installments, so


Knowledge Expert

· commented

· 1 Months ago

Dear Student,the correct explanation has been provided.Do re-read it.Keep Learning with Us.
Best Wishes.
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