A person takes a loan on compound interest and returns it in $2$ equal installments . If the rate of interest is $10$ % per annum and the yearly installment is Rs $1682$ . Find the interest charged with second installment.

Rs.

613.2

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Rs.

603.2

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Rs.

513.2

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Rs.

713.2

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Solution

The correct option is A Rs. $613.2$
$P = \frac{A}{(1 + \frac{R}{100})^{n}}$
$⟹ \frac{1682}{(1 + \frac{10}{100})^{1}}$ $+ \frac{1682}{(1 + \frac{10}{100})^{2}}$
$⟹ 1592.09 + 1390.08 = 2919.17 \approx 2920$
$⟹ A_{2} = 2920 (1 + \frac{10}{100})^{2} = 3533.2$
$C I = A_{1} - P = 3533.2 - 2920 = R s .613 .2$

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A person takes a loan on compound interest and returns it in 2 equal installments . If the rate of interest is 10% per annum and the yearly installment is Rs 1682. Find the interest charged with second installment.

The correct option is A Rs.613.2P=A(1+R100)n⟹1682(1+10100)1+1682(1+10100)2⟹1592.09+1390.08=2919.17≈2920⟹A2=2920(1+10100)2=3533.2CI=A1−P=3533.2−2920=Rs.613.2

A person takes a loan on compound interest and returns it in $2$ equal installments . If the rate of interest is $10$ % per annum and the yearly installment is Rs $1682$ . Find the interest charged with second installment.