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50 vote

A sum of Rs.13,360 was borrowed at $8\frac{3}{4}$% per annum compound interest and paid back in two years In two equal annual Instalments. What was the amount of each instalment

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A sum of Rs.13,360 was borrowed at $8\frac{3}{4}$% per annum compound interest and paid back in two years In two equal annual Instalments. What was the amount of each instalment
1). Rs.5,769
2). Rs.7,569
3). Rs.7,009
4). Rs.7,500

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2 answers

70 vote
Answered by on | Votes 70 |
Rs.7,569 is the best suited

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37 vote
Answered by on | Votes 37 |

. Let each instalment be x.

= $\large \frac{x}{(1+\frac{35^{2}}{400})}$ + $\frac{x}{(1+\frac{35^{}}{400})} = 13360$

$\large \frac{6400x+6960x}{7569}= 13360$

$\large =13360 x = 13360 × 7569$

$ \large x = 7569 $

 




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