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DEBAJIT DAS

· started a discussion

· 1 Months ago

regarding solution (Question:646800.0)

how the question is solved.i want in detail

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

Solution:

Ans: (a)

Suppose each instalment be Rs. x

loan delivered in three equal let say 1st, 2nd, and 3rd instalment which are

(\(\frac{5}{6}\))x , (\(\frac{5}{6}\))2x , (\(\frac{5}{6}\))3x

so, 

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

= \(\cfrac{45500 × 216}{455}\)

= Rs. 21600

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