The total sum of Rs. 48800 is to be paid in three equal installments at a rate of 25% p.a., the installments to be paid are at end of each year. Calculate the amount of each installment.
1
20,000
2
22,000
3
25,000
4
27,500
The total sum of Rs. 48800 is to be paid in three equal installments at a rate of 25% p.a., the installments to be paid are at end of each year. Calculate the amount of each installment.