Practicing Success
A sum of Rs. 43000 was borrowed at 15% p.a. compound interest. It was returned in two equal installments. Find amount of each installment. |
Rs. 25350 Rs. 26450 Rs. 28750 Rs. 31580 |
Rs. 26450 |
15% = \(\frac{3}{20}\) Principal : Installment 1st ⇒ 20 : 23 2nd ⇒ 400 : 529 * Installment amount for each year should be same* Therefore,
Principal : Installment 1st ⇒ 20 : 23 ) × 23 2nd ⇒ 400 : 529 ) × 1
Principal : Installment 1st ⇒ 460 : 529 2nd ⇒ 400 : 529 Sum ⇒ 860 : 529 (Each Installment) ↓ ↓ ×50 ×50 ↓ ↓ 43000(given) 26450 |