Question

What sum (in Rs) given on lan for two years with scheme of return on the basis of compound interest at a
yearly rate of 10% will correspond to repayment through equal monthly installments of Rs 9075)
198000
0511611
189000
O 180000
O 165000
Response​

Answer 1

Answer:

rs=1570

Step-by-step explanation:

LET P BE THE AMOUNT OF LOAN

AT 10% COMPOUND INT AMOUNT DUE AT THE END OF THE FIRST YEAR= 1.1*P

FIRST INST OF 9075 PAID. BALANCE = ( 1.1*P - 9075 )

AMOUNT DUE AT THE END OF SECOND YEAR =1.1*(1.1*P - 9075) = 9075 ( 2 nd inst )

SOLVING P = Rs 15750

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