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Maths Puzzle
Numerical Ability
A sum of rs 3000 has been borrowed by kiran who agrees to repay the amount in three equal annual instalments. Intially the interest rate in the scheme is 10% pa compounded annually; but after two instalments have been paid, the interest rate is increased to 15%pa effective from that year. what is the value of the last instalment?(given (100/110)^3 =0.75)
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