Question

2. If the monthly instalment is 400 and the
maturity amount is 10600. Find the number
of instalments, if rate of interest is 10% p.a.
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Answer 1

Answer:

hope this is helpful, u can do the sum based on the pic given below

Answer 2

Answer:

Let number of instalment = n

Total amount paid = 400×n = 400n.

now maturity amount is 10600 so

$400n + \frac{400n \times 10 \times n}{12 \times 100} = 10600$

$400n + \frac{10}{3} {n}^{2} = 10600$

$1200n + 10 {n}^{2} = 31800$

${n}^{2} + 120n - 3180 = 0$