Question
A sum of Rs. 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 the annual instalment.(a) Rs. 726(b) Rs. 626(c) Rs. 526(d) None of these
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Here, P = Rs. 1260, r = 10% per annum, and n = 2 years. Show more…
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