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Question from Simple Interest - Mathematics ?
This is a discussion on Question from Simple Interest - Mathematics ? within the Numerical Ability forums, part of the Freshers Zone category; A sum of Rs.8000 is borrowed at 5% per annum compound interest & paid back in 3 equal annual instalments ...
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#1
08-28-2007, 01:50 AM
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 Question from Simple Interest - Mathematics ? A sum of Rs.8000 is borrowed at 5% per annum compound interest & paid back in 3 equal annual instalments . What is the amount of each instalment?..Answer--2937.67...HOW...???..
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#2
08-28-2007, 01:51 AM
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| let the instalment be x x[(1+(20/21)+(20/21)^2]=8000 x(1+20/21+400/441)=8000 x(441+420+400)/441=8000 x=8000*441/1261 =2797.78
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