Mathematics · Compound Interest
A refrigerator is available for ₹24,000 cash or for ₹5,000 down payment followed by two equal annual instalments. If the interest is charged at 10% p.a. compounded annually, find the value of each instalment.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹12,000
- 2₹11,500
- 3₹10,948✓
- 4₹10,500
Correct answer
₹10,948
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