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**Question**

18-09-24

**Answer**

The cash price of a television is rs. 4000. a customer paid rs. 1540 in cash and promised to pay the remaining money in 3 monthly equal instalments at the rate of 5% per annum compound interest. what is the value of each instalment?

Cost to tv =4000

Payment at the beginning=1540

Remaining amount =4000-1540=2460

principle amount will be same for 3 years

1st year =x(1+5/100) =x(21/20)

2nd year=x(1+5/100)^{2} =^{ }x(21/20)^{2}

3 rd year =x(1+5/100)^{3 }=x(21/20)^{3}

First +Second +third=2460

x(21/20)+ x(21/20)^{2 +} x(21/20)^{3 }=2460

x(20/21) [1/1 + 20/21 + (20/21)²]=2460

x × 20/21 × 1261/441 =2460

x=(2460*441*21)/(20*1261)

x=903.33

answer A