Started 3 weeks ago by TULSI GUPTA in
3 Replies
-
Replied 10 months ago
Hi Tulsi,Assume the value of each instalment to be x. Now 10% is the compound interest, so after half-year, the principal will be 2100.Now the other instalment x is paid on a principal 2100-x after 1 year=> x =ย 2100-x + 0.1(2100-x) = 2310 - 1.1x=> 2.1x = 2310=> x = 2310/2.1 = 1100.I hope this helps you, please close the ticket if your query has been resolved.
Replied 3 weeks ago
How to solve installment related question For buying her own car, Rama borrows 2000 from a moneylender. The moneylender gives the money at 10% interest compounded annually. At the end, Rama manages to repay the loan in 2 equal instalments. One instalment is paid at the end of half-year and the other instalment a year after the first instalment. What is the amount of each instalment?1000110015001090
Replied 3 weeks ago
How to solve installment related question For buying her own car, Rama borrows 2000 from a moneylender. The moneylender gives the money at 10% interest compounded annually. At the end, Rama manages to repay the loan in 2 equal instalments. One instalment is paid at the end of half-year and the other instalment a year after the first instalment. What is the amount of each instalment?1000110015001090