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1 year, 9 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.
1 year, 9 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
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