Mathematics · Compound Interest
A sum of Rs. 10,000 is borrowed at 8% per annum compounded annually, which is paid back in three equal annual instalments. What is the approximate amount of each instalment?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 4180.35
- 2Rs. 3905.06
- 3Rs. 3880.34✓
- 4Rs. 4199.04
Correct answer
Rs. 3880.34
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