Tuesday, 13 March 2012

Maths Questions

A man took a loan of Rs.5000, which is to be paid in three equal yearly
installments. If the rate of interest is 10% per annum CI. Find the value of each
installment.
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1 comment:

  1. THILAK KUMAR13 March 2012 at 13:05

    Value of Each Installment = Principal/ [ (100/100+r) + (100/100+r)^2 + (100/100+r)^3 ]

    R = 10%
    Principal = 5000
    Value of each installment =
    5000/ [ (100/110) + (100/110)^2 + (100/110)^3]
    = (5000 * 11)/ 10[1+ 10/11 + 100/121]
    = (55000 * 121) / 10(121+110+100)
    = 2010.57

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