Correct Answer - Option 3 : 10500
Given:
P = 48800
R = 25%
Formula used:
Let installment be X
P = (X/ (1 + (R/ 100)) + (X/ (1 + (R/ 100)2)
Calculation:
P = (6050/ (1 + (10/ 100)) + (6050/ (1 + (10/ 100)2)
⇒ P = 6050 × 10/ 11 (1 + (10/ 11)) (∵ 10/ 100 = 1/ 10)
⇒ P = 6050 × 210/ 121
⇒ P = 10500
∴ The required answer is Rs 10500.