Amit buys a house for Rs 500000. The contract is that amit will pay Rs 200000 immediately and the balance in 15 equal instalments with 15 % p.a compound interest . How much has he to pay annually (approximately)?

51, 305

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54, 005

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51, 843

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91, 305

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Solution

The correct option is A Rs $51, 305$
Present value $= R s .50, 000 R s .20, 000 = R s .30, 000$
$P = \frac{A}{(1 + \frac{R}{100})^{n}}$
$⟹ 30, 000 = \frac{A}{1 + (\frac{15}{100})}$ $+ \frac{A}{1 + (\frac{15}{100})^{2}} + . . . . .$ 4
$⟹ A \times 5, 847$
$⟹ A = R s 51, 305$

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Amit buys a house for Rs 500000. The contract is that amit will pay Rs 200000 immediately and the balance in 15 equal instalments with 15 % p.a compound interest . How much has he to pay annually (approximately)?

The correct option is A Rs51,305Present value =Rs.50,000Rs.20,000=Rs.30,000P=A(1+R100)n⟹30,000=A1+(15100)+A1+(15100)2+.....4⟹A×5,847⟹A=Rs51,305

The correct option is A Rs $51, 305$
Present value $= R s .50, 000 R s .20, 000 = R s .30, 000$
$P = \frac{A}{(1 + \frac{R}{100})^{n}}$
$⟹ 30, 000 = \frac{A}{1 + (\frac{15}{100})}$ $+ \frac{A}{1 + (\frac{15}{100})^{2}} + . . . . .$ 4
$⟹ A \times 5, 847$
$⟹ A = R s 51, 305$