Compound Interest

Quantitative Aptitude ( CCS)

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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

300

400

500

Explanation:

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

By: Pranav Gupta

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