- 59870
- 60600
- 60500
- 56875
- None of these

Option 3 : 60500

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Given,

Principal = Rs. 105000

Rate = 10%

Installment = \(\frac{{Principal}}{{\left( {\frac{{100}}{{100 + R}}} \right) + {{\left( {\frac{{100}}{{100 + R}}} \right)}^{2\;}}}}\) = \(\frac{{105000}}{{\left( {\frac{{100}}{{100 + 10}}} \right) + {{\left( {\frac{{100}}{{100 + 10}}} \right)}^{2\;}}}}\) = 105000/1.735 ≈ 60500

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