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ICSE Class 9 Answered

A sum of Rs 1100 was taken as a loan . This is to be repaid in two equal installments. If the rate of interest be 20% compounded annually, then the value of each installment ?
Asked by Rp7350876 | 11 Apr, 2020, 01:32: PM
answered-by-expert Expert Answer
Let the value of each instalment be Rs. x
Therefore, we have
fraction numerator x over denominator open parentheses 1 plus begin display style 20 over 100 end style close parentheses end fraction plus x over open parentheses 1 plus begin display style 20 over 100 end style close parentheses squared equals 1100 fraction numerator 10 x over denominator 12 end fraction plus fraction numerator 100 x over denominator 144 end fraction equals 1100 fraction numerator 120 x plus 100 x over denominator 144 end fraction equals 1100 22 x equals 144 cross times 110 x equals 720
Answered by Renu Varma | 11 Apr, 2020, 08:26: PM

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