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Solve a man borrows rs. 2100 and undertakes to pay back with compound interest @ 10% p.A. In 2 equal yearly installments at the end of first and second year. What is the amount of each installment?

Answer» HI MATE HERE IS YOUR ANSWER
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Principal = rs. 2100
Rate = 10% PER annum
Time = 2 years
AMOUNT = ?
Amount = 2100× (1+10/100)2
Amount = rs. 2541


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