Question

how much money must set aside each year so as to replace a machine that will cost Rs 15.000 after 8 years ? the rate of interest being 12 %per year compounded th t.v.

Answer 1

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Answer 2

a=15000(1+12/100)^1
=15000×112/100
=(150×112)rs
=16800rs
ci=a-p
=16800-15000
=1800rs
than
1800 replace a machine