A builder borrows Rs.2550 to be paid back with compound interest at the rate of4% per annum by the end of 2 yr in two equal yearly installments. How muchwill each installment be?

Report

Report an issue

Name

Email

Message

Submit

Cancel

RRB GG Exam (Bhopal) 2009 click here to view all questions

A builder borrows Rs.2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 yr in two equal yearly installments. How much will each installment be?

ARs.1352

BRs.1377

CRs.1275

DRs.1283

prakash ? Dec 23 '2019 at 10:32

Correct answer is: Rs.1352

Explanation:

Amount = Rs 2550

Rate = 4% per annum

Time = 2 years

Applying the formula

\(P= \frac{X}{\Big(1+\frac{r}{100}\Big)^n}+ …………………….\frac{X}{\Big(1+\frac{r}{100}\Big)}\)

Here we have two equal installments, so

\(P= \frac{X}{\Big(1+\frac{r}{100}\Big)^2} + \frac{X}{\Big(1+\frac{r}{100}\Big)}\)

\(\implies 2550= \frac{X}{\Big(1+\frac{4}{100}\Big)^2} + \frac{X}{\Big(1+\frac{4}{100}\Big)}\)

\(\implies X = \text{ Rs 1352}\)

 

All DiscussionsClick here to write answer

Correct answer is: Rs.1352 Explanation: Amount = Rs 2550 Rate = 4% per annum Time = 2 years Applying the formula \(P= \frac{X}{\Big(1+\frac{r}{100}\Big)^n}+ …………………….\frac{X}{\Big(1+\frac{r}{100}\Big)}\) Here we have two equal installments, so \(P= \frac{X}{\Big(1+\frac{r}{100}\Big)^2} + \frac{X}{\Big(1+\frac{r}{100}\Big)}\) \(\implies 2550= \frac{X}{\Big(1+\frac{4}{100}\Big)^2} + \frac{X}{\Big(1+\frac{4}{100}\Big)}\) \(\implies X = \text{ Rs 1352}\)   prakash ? answered Dec 23 '2019 at 10:32 All Comments

Post your answers here:

Post

Post your comments here:

Message

Post

Cancel