Mathematics · Interest
Piyush borrowed a certain amount from a shopkeeper and returned it in three equal annual installments at a 16% annual rate of compound interest. If the total interest paid by him is Rs. 18,392, then find the value of each installment.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 24389✓
- 2Rs. 26213
- 3Rs. 28467
- 4Rs. 22775
Correct answer
Rs. 24389
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