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What annual instalment will discharge a debt of Rs. 9361 due in 5 years at 5% simple interest ?1. 12012. 17023. 15004. 16025. 1701 |
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Answer» Correct Answer - Option 2 : 1702 Given: Final amount = P + interest ( 5 instalment ) = 9361 Time period is 5 years Rate % = 5% Formula used : \(instalment = \frac{{100 \times amount}}{{\begin{array}{*{20}{c}} {100 \times n + \;R \times \frac{{n\left( {n - 1} \right)}}{2}}\\ {} \end{array}}}\) \(\begin{array}{l} Calculation:\\ instalment = \frac{{100 \times 9361}}{{100 \times 5 + 5 \times \frac{{5\left( {5 - 1} \right)}}{2}}} = 1702 \end{array}\) |
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