Question

Ravish has lend
his brother Rs 40,000.
The loan is to be paid in annual equal installments over the next 5 years at an annual interest rate of 8% . What is the amount that Ravi sharma will receive at the end of each year.
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Answer 1

Answer:

F/FV = R(1+J)^n-1

j

= 40k( 1+0.08 over 1)^5 -1

0.08 0ver 1

= 40k (1.08)^5 -1

.08

= 40k (1.47-1)

.08

=40k (.47)

.08

=18800

0.08

= 235000

Step-by-step explanation:

not sure hehe

Answer 2

A =P× R ×T     ( A = amount,

                        P = principle

                        R = rate of interest

                        T = time)

P = 40,000

R = 8%

T = 5 years

∴ A = 40,000 × 8% × 5

        40,000 × 8/100×5

A     =     16000

Ans :-Ravi Sharma will receive 16000/ at the end of each year.