Latest TCS Aptitude Question SOLUTION: A person buys a washing machine on the condition that he shall pay a sum of INR 5880 as cash down payment and the same sum at the end of the first year and the two years. what is t

• Placement Papers
• /
• TCS
• /
• Numerical Ability
• /
• Simple & Compound Interest

TCS Question Papers: TCS Interview Experience(90) TCS Company Profile

(#M40167041) TCS Numerical Ability question recently asked question Keep an EYE

A person buys a washing machine on the condition that he shall pay a sum of INR 5880 as cash down payment and the same sum at the end of the first year and the two years. what is the total interest(in INR) paid by him under this scheme, if the rate of interest is 5% compounded yearly? (Nearest to a INR)?

Asked In TCS GATTUPALLI AMRUTA (3 years ago)

Unsolved Read Solution (1)

Is this Puzzle helpful?   (31)   (15) Submit Your Solution Simple & Compound Interest

Read Solution (1) :

V manikandan  (3 years ago)

Let say Cost of washing Machine = 100C rs

Paid as down payment = 5880

Remaining Amount = 100C - 5880

Interest in 1st Year = (100C - 5880) * 5 * 1 /100 = 5C - 294

Amount left to be paid = 100C - 5880 - 5880 + 5C - 294

= 105C - 12054

Interest in 2nd year =( 105C - 12054) * 5 * 1 /100

Amount to be Paid

105C - 12054 + ( 105C - 12054) * 5 * 1 /100 = 5880

=> 105C - 12054 = 5600

=> C = 168.13

100C = 16813

Interest Paid = 3 * 5880 - 16813 = 826.67

= 827

the total interest(in INR) paid by him under this scheme, = 827

Is this solution Helpfull? Yes (2) | No (6)  

Please Login to Read Solution.