What annual payment (In ₹) will discharge a d | vedclass

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Question

Let each annual instalment be ₹ $x$.

$	herefore \quad \frac{x}{\left(1+\frac{5}{100}ight)^{2}}+\frac{x}{\left(1+\frac{5}{100}ight)}=1025$

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Vedclass · Accepted Answer

$551.25$

Vedclass · Answer

Let each annual instalment be ₹ $x$.

$	herefore \quad \frac{x}{\left(1+\frac{5}{100}ight)^{2}}+\frac{x}{\left(1+\frac{5}{100}ight)}=1025$

or $x 	imes\left(\frac{20}{21}ight)^{2}+x\left(\frac{20}{21}ight)=1025$

Or

$\frac{400 x}{441}+\frac{20 x}{21}=1025$

$\Rightarrow$

$\frac{400 x+420 x}{441}=1025$

or $x=\frac{1025 	imes 441}{820}=₹ 551.25$

Hence each annual instalment $=₹ 551.25$

What annual payment (In ₹) will discharge a debt of ₹ $1025$ due in $2$ years at the rate of $5 \%$ compound interest?

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