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An LCD TV is available at Rs. 27780 cash price of three equal annual instalments at 15 per cent per annum under CI compounding annually. Find each instalment amount(in Rs.)

(A) 10146

(B) 11123

(C) 13184

(D) 12167

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Using the formula of Compound interest: A=p(1+R/100)^n   

A=27780(1+(15/100))^3 =x(1+(15/100))^2+x(1+(15/100))^1+x

27780(1+(15/100))^3 =x(1+(15/100))^2+x(1+(15/100))^1+x (taking x as common)

27780(1+(15/100))^3 =x(3.4725)

x=42249.9075/3.4725 

x =12167 (amount )

 

 

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