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A sum of Rs 6,000 was taken as a loan. T...

A sum of Rs 6,000 was taken as a loan. This is to be repaid in two equal annual installments. If the rate of interest is 20% compounded annually then find the value of each installment.

A

A. Rs. 3000

B

B. Rs. 4320

C

C. Rs. 6000

D

D. Cannot be determined

Text Solution

Verified by Experts

The correct Answer is:
B
Increased transmission cost `20,000xx(120)/(100)=24000`
`:.` increase in transmission cost =24000-20000=RS4000
Here, this increase will reduce the profit by 4000.
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