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1Â year, 8Â months ago
If Ankit borrowed an amount of 'P' for 3 years at a 25% compound interest rate per annum, Rs. 37500 is the installment paid at the end of each year, starting from the first year. Find the value of borrowed amount P.
1Â year, 8Â months ago
Formula is P= (Borrowed) { [1/(x)] + [1/(x^2)] + [1/(x^3)] } where x = (1+r/100),,, if r = 25, x = 5/4 , therefore putting values, 73200