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Abhijeet Kumar

· started a discussion

· 1 Months ago

Explanation is not clear (Question: 246987.0 )

Can u plzs olve it with other method

Question:
What annual payment will discharge a debt of Rs.14300 due in 2 years at the rate of 8% compound interest?
Options:
A) Rs.8019
B) Rs.7019
C) Rs.9019
D) Rs.9119
Solution:
Ans: (a)


suresh kommara

· commented

· 1 Months ago

Installment/Payment/Annual Income on CI = PR / 100 { 1- [ 100/(100+R) ]^n }

=> annual payment will discharge = 14300 * 8 / 100 { 1- [100/(100+8)]^2 }

= 143*8 / { [11664 -10000] /11664 }

= 143*8*11664/1664

= 8019
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