Kamal took Rs. 6800 as a loan which along with interest is to be repaid in two equal annual installment. If the rate of interests is 1212% compounded annually, then the value of each installment is:

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Asked: January 4, 20222022-01-04T06:20:22+05:30 2022-01-04T06:20:22+05:30Category: Number Puzzles

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Mighty Ashish · Answer 1 · 2022-01-04T06:20:45+05:30

Explanation:

Rate of interest(r)

=12 1\2

Year Principal Installment

=1 8×9 →9×9…….1

=2 64→81………2

Since, installment is equal hence multiply equation 1 by 9

Total principal=72+64

=136 units

136 units = 6800

1 unit = 50

81 units = 4050

∴Each installment = Rs.4050