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Prakash Kumawat

· started a discussion

· 1 Months ago

separate formula (Question: 117409.0 )

why i cant use p(1+r)^n = total installment ?

Question:
A builder borrows \(\unicode{x20B9} \)2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal installments. How much will each installment be?
Options:
A) \(\unicode{x20B9} \)1352
B) \(\unicode{x20B9} \)1377
C) \(\unicode{x20B9} \)1275
D) \(\unicode{x20B9} \)1283
Solution:
Ans: (a) Let each installment be Rs. x.


= Rs.1352

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