SATHEE: Quantitative Aptitude Ques 1205

Quantitative Aptitude Ques 1205

Question: A man borrows Rs. 5000 from a bank at 8% per annum compound interest. At the end of every year he pays Rs. 1000 as a part payment of loan and interest. How much does he still owe to the bank after 3 such instalments?

Options:

A) Rs. 3052.16

B) Rs. 3442.20

C) Rs. 3616.84

D) Rs. 3824.40

Show Answer

Answer:

Correct Answer: A

Solution:

Borrows amount = Rs. 5000 Rate of interest $ =8 $ % Number of instalments $ =3 $ According to the question, Balance $ =Rs\text{. }{ 5000\times {{( 1+\frac{8}{100} )}^{3}} } $ $ -{ 1000\times {{( 1+\frac{8}{100} )}^{2}}+1000\times ( 1+\frac{8}{100} )+1000 } $ $ =[ ( 5000\times \frac{27}{25}\times \frac{27}{25}\times \frac{27}{25} ) ] $ $ -( 1000\times \frac{27}{25}\times \frac{27}{25}+1000\times \frac{27}{25}+1000 ) $ $ =[ \frac{157464}{25}-( \frac{5832}{5}+1080+1000 ) ] $ $ =( \frac{157464}{25}-\frac{16232}{5} ) $ $ =6298.56-3246.40=3052.16 $

Quantitative Aptitude Ques 1204

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