Multiple Choice Questions on Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs 30........... for SBI(PO) Exam Preparation

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Multiple Choice Questions

Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs 30...........

Quantitative Aptitude (SBI-PO) Compound Interest
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    Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?

    200

    Incorrect Answer

    300

    Correct Answer

    400

    Incorrect Answer

    500

    Incorrect Answer
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    Explanation:

    D =[(30,000 *110/100*110/100) – 30,000]  – 30,000 *10*2/100
    =[36300-30000]- 6000
    =6300 – 6000
    D = 300

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