What annual instalment will discharge a debt of Rs 848 due in 4 years at 4 Simple Interest ........

Quantitative Aptitude ( CCS) Simple Interest

Download Solution PDF

What annual instalment will discharge a debt of Rs. 848 due in 4 years at 4% Simple Interest?

Rs. 150

Rs.200

Rs. 360

Rs. 400

छोटे Courses बड़े Results

Master Simple Interest

Prepare through Micro-courses

Try Now

Explanation:

Let the amount due after 4 years is Rs 100
If the instalment is started after I year then at the end of 4 years from now, it will be equivalent in paying
Rs. 3×4×100/100 + 100 = Rs.112
Similarly 2nd, 3rd, 4th instalment will be equal to Rs.108, Rs.104 and Rs.100 due after 4 years from now.
Total amount, discharged by this four instalments due after 4 years is Rs.112+Rs.108+Rs.104+Rs.100 = Rs.424
If the amount due is Rs.424, then the instalment is Rs.100
If the amount due is Rs.848, then the instalment is
848×100/424 = Rs.200

Hence, option 2 is the correct answer.