A sum of Rs. 210 was taken as a loan. This is to be paid back in two equal instalments. If the rate of interest is 10% compounded annually, then the value of each instalment is |
A) Rs. 127
B) Rs. 121
C) Rs. 210
D) Rs. 25
Correct Answer: B
Solution :
Let each instalment = Rs. x |
Then, according to the question, |
\[\frac{x}{\left( 1+\frac{10}{100} \right)}+\frac{x}{{{\left( 1+\frac{10}{100} \right)}^{2}}}=210\] |
\[\Rightarrow \]\[\frac{x}{11}+\frac{x}{{{\left( \frac{11}{10} \right)}^{2}}}=210\]\[\Rightarrow \]\[\frac{10x}{11}+\frac{100x}{121}=210\] |
\[\Rightarrow \]\[\frac{110x+100x}{121}=210\]\[\Rightarrow \]\[\frac{210x}{121}=210\] |
\[\Rightarrow \] \[x=\frac{210\times 121}{210}=\text{Rs}\text{. 121}\] |
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