Question

A sum of Rs 550 was taken as a loan.This is to be paid back in teo equal installments.If the rate of interest be 20% compounded anually,then the value of each installment is what

Answer 1

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Let X = equal installment at the end of one year( rate% annually) . 
Now 1st year, 
P =550, 
Interest = PTR/100 = 550*0.2 = 110. 
Let X is to be paid as equal installment. 
Now, at the beginning of 2nd year, 
P =550 + 110 - X, 
Interest at the end of 2nd year,
= (660 - X) *0.2 = 132 -0.2X. 
Hence,total installment,
2X = 550 + 110 + 132 - 0.2X, 
2X + 0.2X = 792
X = 792/2.2 = 360.

So, Equal Installment = Rs. 360.

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Answer 2

and finally x =360 hope this will help u