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Question

A man borrowed Rs.20000 at the rate of 10% per annum compounded annually. The total amount that needs to be paid at the end of one, two, three and four years is a, b, c and d respectively. An equation is defined such that dbca=11k.
What is the value of k?


  1. 100

  2. 1000

  3. 1

  4. 10

  5. 10000


Solution

The correct option is D

10


Let the amount to be paid after n years be x.

x=20000(1+10100)n=20000×pn

11k=20000(p4p2)20000(p3p)=p=1.1

k = 10

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