Question

A sum of money was borrowed and paid back in two
annual instalments of 5,400 and 11,664
respectively. The rate of compound interest was 8%
per annum. What sum was borrowed ? ?​

Answer 1

The general formulae for installments in case of compound interest is P =x/(1+r/100) + x/(1+r/100)^2 ....x/(1+000)

 

And here we have to find P

Given x1 = 5400, x2 = 11664, r = 8 and n=2

On substituting the values

HERE IS YOUR ANSWER MATE...

Answer 2

Answer:

Hey!! mate this your answer