Math, asked by deepu151099, 5 months ago

A sum has lent to X for three years by an organization who fixed a yearly rate of 10% compound interest for
repayment along with the condition of recovery in equal annual installments of Rs. 31944. What percentage
(correct to two decimal places) above the borrowed amount had X to pay to the organization?
33700​

Answers

Answered by RvChaudharY50
0

Given :- A sum was lent to X for three years by an organisation who fixed a yearly rate of 10% compound Interest for repayment along with the condition of recovery in equal installments of Rs.31944 per year. What percentage (correct to two decimal places) above the borrowed amount had X to pay the organization ?

Solution :-

given that,

  • Rate of interest = 10% compounded annually.
  • Equal installment each year = Rs.31944 .
  • Time = 3 years.

So,

→ Rate = 10% = (1/10)

Than,

  • 1st year = 10 -------- 11
  • second year = 100 --------- 121
  • Third year = 1000 ---------- 1331 (Let installment per year.)

Making all installment same now,

  • 1st year = 1210 -------- 1331
  • second year = 1100 --------- 1331
  • Third year = 1000 ---------- 1331

So,

→ Total Principal = 1210 + 1100 + 1000 = Rs.3310 .

Therefore, we can conclude that,

→ when installment is Rs.1331 per year , principal is = Rs.3310 .

than,

→ when installment is Rs.1331 per year , principal is = Rs.(3310/1331) .

so,

→ when installment is Rs.31944 per year , principal is = Rs.(3310 * 31944)/1331 = Rs.79,440 .

So,

→ Principal = Rs.79,440

→ Total amount paid in three installments = 31944 * 3 = Rs.95982

Now,

→ Extra amount paid = 95982 - 79440 = Rs.16542.

Hence,

→ % Extra amount paid = (16542 * 100) / 79440 = 20.82% .

20.82% (correct to two decimal places) above the borrowed amount had X to pay the organization.

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