Three equal instalments each of $R s 200$ were paid at the end of the year for the sum borrowed at $20 %$ interest compounded annually. Find the sum.

600

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421.3

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400

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431.1

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Solution

The correct option is B $421.3$
Each Installment = $\frac{P \cdot r}{100 [1 - {\frac{100}{100 + r}}^{n}]}$
Here Installement $= 200$
Rate of interest $(r) = 20$
Number of years $(n) = 3$
Solving the above equation gives $P = 421.3$

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Three equal instalments each of Rs200 were paid at the end of the year for the sum borrowed at 20% interest compounded annually. Find the sum.

The correct option is B 421.3Each Installment = P⋅r100[1−{100100+r}n]Here Installement=200Rate of interest (r)=20Number of years(n)=3Solving the above equation gives P=421.3

Three equal instalments each of $R s 200$ were paid at the end of the year for the sum borrowed at $20 %$ interest compounded annually. Find the sum.

The correct option is B $421.3$
Each Installment = $\frac{P \cdot r}{100 [1 - {\frac{100}{100 + r}}^{n}]}$
Here Installement $= 200$
Rate of interest $(r) = 20$
Number of years $(n) = 3$
Solving the above equation gives $P = 421.3$