A borrowed Rs 28 500 at 8 pa interest compounded annually If Rs 5 780 was paid at the end of first y...........

Quantitative Aptitude (CPO) Compound Interest

A, borrowed Rs 28,500 at 8% pa interest compounded annually. If Rs 5,780 was paid at the end of first year, then the outstanding

amount at the end of second year is:

This questions was previously asked in

SSC CPO 14th-March-2019-Shift-1

Rs 30,780.00

Rs 33,242.40

Rs 27,462.40

Rs 27,000.00

- A took a loan of Rs 28,500 at an 8% annual interest rate.

- First-year interest = \( 28,500 \times 0.08 = Rs 2,280 \).

- Amount after the first year = Rs 28,500 + Rs 2,280 = Rs 30,780.

- Rs 5,780 was paid at the end of the first year.

- Outstanding amount after payment = Rs 30,780 - Rs 5,780 = Rs 25,000.

- Second-year interest = \( 25,000 \times 0.08 = Rs 2,000 \).

- Outstanding amount at the end of the second year = Rs 25,000 + Rs 2,000 = Rs 27,000.

- Options:

- Rs 30,780.00

- Rs 33,242.40

- Rs 27,462.40

- Rs 27,000.00

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