A) Rs. 8420
B) Rs. 7920
C) Rs. 7200
D) Rs. 7000
Correct Answer: C
Solution :
Let the value of each instalment be Rs. x. Then, (P.W. of Rs. x due 1 year hence) + (P.W. of Rs. x due 2 years hence) = Rs. 11000 \[\therefore \] \[\frac{x}{\left( 1+\frac{20}{100} \right)}+\frac{x}{{{\left( 1+\frac{20}{100} \right)}^{2}}}=11000\] or \[\frac{5x}{6}+\frac{25x}{36}=11000\] or \[55x=36\times 11000\] or \[x=\left( \frac{36\times 11000}{55} \right)=Rs.7200\]
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