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Please solve the first question
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Asked by krcraju1973 | 13 May, 2019, 04:22: AM
answered-by-expert Expert Answer
According to the given information
 
r = 8% p.a., Maturity value = Rs. 8088, n = 3 yeras = 36 months
begin mathsize 16px style Maturity space value equals Pn plus fraction numerator Pn left parenthesis straight n plus 1 right parenthesis over denominator 12 cross times 2 end fraction cross times straight r over 100 8088 equals 36 straight P plus fraction numerator 36 straight P cross times 37 over denominator 12 cross times 2 end fraction cross times 8 over 100 36 straight P open parentheses 1 plus fraction numerator 37 over denominator 12 cross times 2 end fraction cross times 8 over 100 close parentheses equals 8088 straight P cross times 36 cross times 337 over 300 equals 8088 straight P equals Rs. space 200 end style
The value of his monthly instalment is Rs. 200.
Answered by Sneha shidid | 13 May, 2019, 10:39: AM

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