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6.Interest
medium
A sum of ₹ $1260$ is borrowed from a money lender at $10 \%$ p.a. compounded annually. If the amount is to be paid back in two equal annual instalments, find out the annual instalment (In ₹).
A
$726$
B
$626$
C
$526$
D
None of these
Solution
(a) Here, $P=1260$ and $R=10$. .
Annual instalment
$=\frac{P}{\left(\frac{100}{100+R}\right)+\left(\frac{100}{100+R}\right)^{2}}=\frac{1260}{\frac{100}{110}+\left(\frac{100}{110}\right)^{2}}$
$=\frac{1260}{\frac{100}{110}\left(1+\frac{100}{110}\right)}=1260 \times \frac{110}{100} \times \frac{110}{210}=₹ 726$
Standard 13
Quantitative Aptitude
