A sum of Rs. 1.260 is borrowed from a money lend at 10% p.a. compounde

1.	A sum of Rs. 1.260 is borrowed from a money lend at 10% p.a. compoundedannually. If the amount is to be back in two equal annual instalments. Find theannual instalment?1) Rs. 7262) Rs. 8003) Rs. 8204) Rs. 7505) Other than those given as options
Answer» yes the answers is 726 because than borrow the money Principle amount P = 1260, Time period n = 2 years, Rate of Interest R = 10% For compound interestA = P(1 + R/100)^nA = 1260(1 + 10/100)^2A = 1260(1.1)^2A = 1260*1.21 = 1524.6 Therefore, two equal. installment = Rs 762.3 (5) is correct option

A sum of Rs. 1.260 is borrowed from a money lend at 10% p.a. compoundedannually. If the amount is to be back in two equal annual instalments. Find theannual instalment?1) Rs. 7262) Rs. 8003) Rs. 8204) Rs. 7505) Other than those given as options

Answer»

yes the answers is 726 because than borrow the money

Principle amount P = 1260, Time period n = 2 years, Rate of Interest R = 10%

For compound interestA = P(1 + R/100)^nA = 1260(1 + 10/100)^2A = 1260(1.1)^2A = 1260*1.21 = 1524.6

Therefore, two equal. installment = Rs 762.3

(5) is correct option