Latest Others Aptitude Question SOLUTION: What annual payment wil discharge a debt of Rs. 7620 due in 3 years at 16 2/3 % per annum compound interest?

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(#M40019576) OTHERS question Keep an EYE

What annual payment wil discharge a debt of Rs. 7620 due in 3 years at 16 2/3 % per annum compound interest?

Asked In Others mohan lal garg (10 years ago)

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PRASHANT  (8 years ago)

Let each installment be Rs.x
(P.W. of Rs.x due 1yr hence)+(P.W of Rs.x due 2yr hence)+(P.W of Rs. X due 3yr hence)=7620.
x/(1+(50/3*100))+ x/(1+(50/3*100))^2 + x/(1+(50/3*100))^3=7620
(6x/7)+(936x/49)+(216x/343)=7620
294x+252x+216x=7620*343
x=(7620*343/762)=3430
Amount of each installment=Rs.3430

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