Rs.32400 is payable after 6 years. If he wants to pay in 6 equal installments. Find each installment if rate of interest is 8% per annum ?OptionsRs.3500Rs.4500Rs.4800Rs.4000

The problem is about calculating the equal installments for a loan repayment with interest. Here's how you can solve it:

Step 1: Understand the problem. The total amount to be paid is Rs. 32400 after 6 years. The payment is to be made in 6 equal installments. The rate of interest is 8% per annum.

Step 2: Use the formula for calculating the installment of a loan with interest. The formula is:

P = [r*PV] / [1 - (1 + r)^-n]

where: P = installment amount r = interest rate per period (in this case, per year) PV = present value of the total amount n = number of periods (in this case, number of years)

Step 3: Substitute the given values into the formula:

P = [0.08*32400] / [1 - (1 + 0.08)^-6]

Step 4: Calculate the value of P. This will give you the amount of each installment.

Please note that the exact value of P will depend on the specific formula used and the precision of the calculation. The options provided (Rs.3500, Rs.4500, Rs.4800, Rs.4000) are rounded to the nearest hundred. The correct answer should be the option that is closest to the calculated value of P.