A man borrowed Rs. 1,26,10 from a back to be paid back in 3 years in equal
instalments money being worth 5% per annum compound interest. Find the
value of each instalment.
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Answer:
ANSWER
We know that,
A=P(1+
100
r
)
n
⟹2160=P(1+
100
20
)
2
⟹P=Rs.4551.12
HOPE IT HELPS
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