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If you need Rs. 10,000 to pay for your first year of graduate school in 3 years and you get an interest rate of 9%, how much must you invest each of the next three years?

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Maths Wizard

This problem is based on installment. Please tell the rate of interest charged is SI or CI.
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JEE/Board Maths Tutor

Use SI=prt/100.
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