Quantitative Aptitude Ques 1671
Question: A sum of Rs. 210 was taken as a loan. This is to be paid back in two equal instalments. If the rate of interest is 10% compounded annually, then the value of each instalment is
Options:
A) Rs. 127
B) Rs. 121
C) Rs. 210
D) Rs. 25
Show Answer
Answer:
Correct Answer: B
Solution:
- Let each instalment = Rs. x Then, according to the question, $ \frac{x}{( 1+\frac{10}{100} )}+\frac{x}{{{( 1+\frac{10}{100} )}^{2}}}=210 $
$ \Rightarrow $ $ \frac{x}{11}+\frac{x}{{{( \frac{11}{10} )}^{2}}}=210 $
$ \Rightarrow $ $ \frac{10x}{11}+\frac{100x}{121}=210 $
$ \Rightarrow $ $ \frac{110x+100x}{121}=210 $
$ \Rightarrow $ $ \frac{210x}{121}=210 $
$ \Rightarrow $ $ x=\frac{210\times 121}{210}=Rs\text{. 121} $
BETA
