Latest self Aptitude Question SOLUTION: The cash price of a television is Rs. 4022. A customer paid Rs. 1500 in cash and promised to pay the remaining money in 3 monthly equal instalments at the rate of 5% per annum comp

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(#M40012965) SELF Numerical Ability question Keep an EYE

The cash price of a television is Rs. 4022. A customer paid Rs. 1500 in cash and promised to pay the remaining money in 3 monthly equal instalments at the rate of 5% per annum compound interest. What is the value of each instalment?
Option 1 : Rs. 926.10 Option 2 : Rs. 903.33 Option 3 : Rs. 928.30 Option 4 : Rs. 940.50

sravan (11 years ago)

Unsolved Read Solution (5)

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Narendra Dhaker  (8 years ago)

Ans is (A) 926.10

there is a equation to solve such kind of problem i read in a book which is
when you have to pay an amount of X in N equal installment than amount of each installment will be?..
let assume each installment amount is than,

X= [ Y / ( 1+(r/100)) ] + [ Y / ( 1+(r/100))^2 ] + [ Y / ( 1+(r/100))^3 ] .......... upto N terms [ Y / ( 1+(r/100)) ^N ]

here X=2522,

2522= [y / ( 1+(5/100) )] + [y / ( 1+(5/100)^2 )] + [y / ( 1+(5/100)^3 )]

y= 926.10

Is this solution Helpfull? Yes (17) | No (6)  

kavita dalmia  (11 years ago)

x/(20/21) + x/(20/21)^2 + x/(20/21)^3 = 2522
here x is the monthly installment.
20/21= (1+r/100)
x=926.10

Is this solution Helpfull? Yes (9) | No (35)  

md iqbal siddiqui  (8 years ago)

kvita dalmia please explain it in proper way so that we can understand it

Is this solution Helpfull? Yes (8) | No (5)  

pratibha  (11 years ago)

ans is a 926.10

Is this solution Helpfull? Yes (2) | No (19)  

vineeth  (5 years ago)

ans is 926.10

Is this solution Helpfull? Yes (1) | No (1)  

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