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Quantitative Aptitude (CGL) SSC CGL Exam

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Vivek took a loan from the bank at 8% per annum, and was supposed to pay a sum of Rs.2500 at the end of 4 years. If the same sum is cleared off in four equal annual instalments at the same rate, then the amount of annual instalment will be?

Rs.558

Rs.978

Rs.766

Rs.856

Explanation:

x + (x*8*1/100) = 27x/25
x + (x*8*2/100) = 29x/25
x + (x*8*3/100) = 31x/25
(x + 27x/25 + 29x/25 + 31x/25) = 2500
112x/25 = 2500 => x = 558

By: Pranav Gupta

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