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Miku borrowed some amount for buying a phone and paid back in two annual installments of Rs. 2646 each, allowing 5% compound interest. What was the amount borrowed?1. 49902. 49503. 49204. 4490 |
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Answer» Correct Answer - Option 3 : 4920 Given: (i) Two annual instalments = Rs. 2646 (ii) Rate (R) = 5% pa CI Calculations: According to the question, Principal = [2646/(1 + 5/100) + 2646/(1 + 5/100)2] ⇒ (2646 × 20)/21 + (2646 × 400)/441 ⇒ 126 × 20 + 6 × 400 ⇒ 2520 + 2400 ⇒ 4920. The amount borrowed by Miku was Rs. 4920. |
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