Westonci.ca is the best place to get answers to your questions, provided by a community of experienced and knowledgeable experts. Get detailed and precise answers to your questions from a dedicated community of experts on our Q&A platform. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.
Sagot :
Answer:
(c) Rs. 8,310
Step-by-step explanation:
Amount Borrowed: Rs. 10,000
Interest Rate: 10% per annum
Payment Schedule: Paid in 4 equal annual installments
Let's break down the repayment process:
The borrower makes 4 equal annual installments.
After paying two installments, the remaining amount is returned at the end of the third year.
Step-by-Step Calculation:
Calculate Annual Installment:
Since the loan is repaid in 4 equal installments:
Annual Installment
=
10
,
000
4
=
2
,
500
rupees
Annual Installment=
4
10,000
=2,500 rupees
Calculate Compound Interest for 3 years on Rs. 10,000 at 10%:
The compound interest formula is:
We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.
