In order to purchase an equipment, five annual instalments of Rs. 30,000 are required. Given the interest rate of 10%, what is the price that you will be paying for that equipment today?
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Answer:
1,65,000
Explanation:
30,000*5=1,50,000.
now interest= 150000*10/100
=15000
hence, total price
=150000+15000
=165000.
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