?
A sum of Rs. 210 was taken as a loan. This is to be paid back in two equal installments. If the rate of the interest be 10% compounded annually, then the value of each installment is:
Answer & Solution
Correct Answer:
Option
A
Let X = equal installment at the end of one year( rate% annually) .
Now 1st year,
P =210,
Interest = $$\frac{{{\text{PTR}}}}{{100}}$$ = 210 * 0.1 = 21.
Let X is to be paid as an equal installment.
Now, at the beginning of 2nd year,
P = 210 + 21 - X,
Interest at the end of 2nd year,
= (231 - X) * 0.1 = 23.1 - 0.1X.
Hence,total installment,
2X = 210 + 21 + 23.1 - 0.1X,
X = $$\frac{{{\text{254}}{\text{.1}}}}{{2.1}}$$ = 121.
Join the Discussion
Login to post a comment or share your explanation.
LoginP₂ : A₂ = 100 : 121
Now, (110 + 100) = 210 units ≡ Tk.210
⇒121 units ≡ Tk.121 (Ans.)
Solved by : Mostafa kamal Abir
⇒(400 + 420) i.e 820 units ≡ Tk.1,640
and given paid in two equal installments so square of 11 i.e. 121 so 121 is answer