Question
A person 'X' borrowed Rs. 4,000
from a bank on simple interest, which is to be repaid in three equal annual installments. The rate of interest charged by the bank is 25% per annum. Determine the approximate amount of each installment.Solution
ATQ, Amount = Principal × (rate/100) × time + Principal So, amount = 4,000 × (25/100) × 3 + 4,000 Or, amount = Rs. 7,000 Using, A = nx + [(n - 1) + (n - 2) + .... + 1] × Rx ÷ 100 Where, 'A' is the amount, 'n' is the time, 'x' is the amount of each installment and 'R' is rate of interest So, 7,000 = 3x + (2 + 1) × 25x ÷ 100 Or, 7,000 = 3x + 0.25x Or, 7,000 = 3.25x Or, 'x' = (7,000/3.25) ~ 2,154 Therefore, amount of each installment is Rs.2154 (approx.) .
The Supreme Court of India rejected the plea of ___________ to quash the summons issued by the Delhi Legislative Assembly’s Committee on Peace and Ha...
One-seventh of a 2-digit number is 15 less than half of the number. What is the sum of the digits of the 2-digit number?
In which year was the National Biodiversity Authority, a statutory autonomous body, established under the Ministry of Environment and Forests, Governme...
Consider the following statements:
1.The Eastern Ghats and Western Ghats meet at the Nilgiri Hills.
2.The Thar Desert is the most densely ...
Which of the following is a non-metal required by the human body?
Which one of the following is not a cast crop of India?
Which organization has developed the Indian Light Tank (ILT)?
Which of these countries has become the vice-chair of the Asia Pacific region of the World Customs Organization (WCO) for a period of two years?
When was the National Interim Government of India formed, under Jawaharlal Nehru?
The third Buddhist Council was held by:
Relevant for Exams:
