Mathematics · Interest
An amount of Rs. 10,000 is borrowed at 10% per annum compound interest for 3 years, compounded annually, and paid back in 3 equal annual installments during these years. What is the amount of each installment (approximately)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 4437
- 2Rs. 4237
- 3Rs. 4021✓
- 4Rs. 3811
Correct answer
Rs. 4021
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