A loan of Rs. 12300 at 5% per annum compound interest, is to be repaid in two equal annual installments at the end of every year. Find the amount of each installment ?

1Rs. 6651
2Rs. 6615
3Rs. 6516
4Rs. 6156

Answer:- 1

Explanation:-

Solution:

5 % = \frac{1}{20} = \frac{21 \to Installment}{20 \to Principal}

$5\% = \frac{1}{{20}} = \frac{{21 \to {\text{ Installment}}}}{{20 \to {\text{ Principal}}}}$

Year	Principal	Installment
⇒ I	20_×21 →	21_×21	......(i)
⇒ II	400→	441	.....(ii)

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Year	Principal	Installment
⇒ I	20_×21 →	21_×21	......(i)
⇒ II	400→	441	.....(ii)

Since, installment is equal, hence multiply equation (i) by 21
⇒ Total principal = 420 + 400 = 820
⇒ 820 units = Rs. 12300
⇒ 1 units = Rs. 15
⇒ 441 units = Rs. 6615
∴ Each installment = Rs. 6615 ", "dateCreated": "7/24/2019 10:09:12 AM", "author": { "@type": "Person", "name": "Nitin Sir" } }, "suggestedAnswer": { "@type": "Answer", "text": "

Solution: