Multiple Choice Questions on Poorni and Priyanka have to clear their respective loans by paying 2 equal annual instalments of Rs ........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Poorni and Priyanka have to clear their respective loans by paying 2 equal annual instalments of Rs ...........

Quant (SSC) Compound Interest
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    Poorni and Priyanka have to clear their respective loans by paying 2 equal annual instalments of Rs.20000 each. Poorni pays at 10% pa of SI and Priyanka pays at 10% CI pa. What is the difference in their payments ?

    200

    Correct Answer

    300

    Incorrect Answer

    400

    Incorrect Answer

    500

    Incorrect Answer
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    Explanation:

    D =[(20,000 *110/100*110/100) – 20,000]  – 20,000 *10*2/100
    =[ 24200-20000]-4000
    =4200 – 4000
    D = 200

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