ICSE Class 9 Answered
A sum of money is paid back in three equal annual installments, each of Rs. 10,648, at 10% C.I. What was the sum borrowed?
Asked by Topperlearning User | 01 Aug, 2017, 08:04: AM
Expert Answer
Let the sum borrowed= Rs. y
Time = 3 years and r= 10%
Each installment = Rs. 10,648
For 1st installment
A = Rs. 10,648; n = 1 year and r = 10%
For 2nd installment
A = Rs. 10,648; n = 2 year and r = 10%
For 3rd installment
A=Rs .10,648; n = 3 year and r = 10%
Total principal = Rs. 9,680 + Rs. 8,800 + Rs. 8,000 = Rs. 26,480
Answered by | 01 Aug, 2017, 10:04: AM
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