Question
Solution
P = [(Installment)/(1 + R/100)^1 + (Installment)/(1+R/100) ] ⇒ P = [5547/(43/40) + 5547/(43/40) ] ⇒ P = 5547(40/43 + 1600/1849) ⇒ P = 5547(3320/1839) ⇒ P = Rs. 9960 ⇒ Total Installment = 5547 × 2 = Rs. 11094 ⇒ Total Interest = Rs(11094 - 9960) ⇒ Rs. 1134 ∴ Total interest is Rs. 1134
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