Math, asked by Muke2017, 5 months ago

A person purchase a house worth 70000, on a hire purchase scheme, at the time of gaining possession he has to pay 40% of the cost of the house and the rest amount is to be paid in 20 equal annual instalment. If the compound interest is reckoned at 7.5% p.a. What should be the value of each instalment?

Answers

Answered by yraj53363

5

Answer:

apply the formula of compound interest C=P(r+1) /2

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