Latest CSC Aptitude Question SOLUTION: What annual instalment will discharge a debt of Rs.1092 due in 3 years at 12% simple interest?

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(#M40008684) CSC Numerical Ability question Installments Keep an EYE

What annual instalment will discharge a debt of Rs.1092 due in 3 years at 12% simple interest?

Asked In CSC Mohamedmohideen (12 years ago)

Unsolved Read Solution (8)

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Read Solution (8) :

appu.srva  (12 years ago)

Small correction here the total amount due is 1092, that is the amount which has to be paid if the person keeps the principal amount for 3 years.

So, replace {Rs. 1092 + Rs.((1092*12*3)/100) } in the previous solution given by me by 1092.

So by solving we will get X= Rs. 325.

Is this solution Helpfull? Yes (19) | No (8)  

appu.srva  (12 years ago)

Let the installment be Rs. X

If he keeps the total amount for 3 years, he have to pay the interest

of Rs. (1092*12*3)/100.

But he paid Rs. X after 1 year.

So he need not to pay interest for Rs. X for remaining 2 years. i.e he

need not to pay Rs. (X*12*2)/100.

And he paid another Rs. X after 2 years.

So he need not to pay interest for for remaining 1 years. i.e. Rs.

(X*12*1)/100.

So The total interest he has to pay is Rs. ((1092*12*3)/100) - [

((X*12*2)/100) + ((X*12*1)/100) ].

So, The total amount he has to pay is Rs. 1092 + Rs.((1092*12*3)/100) -

[ ((X*12*2)/100) + ((X*12*1)/100) ].

The total amount he paid = 3X. ( because he paid Rs.X for three times)

1092 + ((1092*12*3)/100) - [ ((X*12*2)/100) + ((X*12*1)/100) ] = 3X


BY solving, we will get X = 442.

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

Vignesh  (12 years ago)

Annual installment = Rs.325

Each installment = X rupees

Therefore,
--> (X + (X * 12 *1)/100) + (X + (X * 12 *2)/100) + X = 1092
--> (28X/25) + (31X/25) + X = 1092
--> (28X +31X + 25X) = (1092 * 25)
--> 84x = 1092 * 25
So, X = (1092*25)/84
X = 27300/84
X = 325 rupees

Is this solution Helpfull? Yes (12) | No (18)  

pradeep  (10 years ago)

this question is 4m rs agarwal check out crct ans is 325 rs

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

harshita  (11 years ago)

The annual payment taht will discharge a debt of Rs. A due in t years at the rate of interest r% per annum is given by
Annual payment=100A / {100t+rt(t-1)/2}
putting the values in the formula ,the answer is 3397.34 Rs.

Is this solution Helpfull? Yes (2) | No (10)  

NARESH CNR  (8 years ago)

Shortcut Method :

Formula: M=n*x(1+r(n-1)/200)

here M= Borrowed Amount ; n = No.of Installments ; x = each annual installment amount
and r= rate % per year.

Given that M=1092 ; n=3 ; r=12% and we need to find-out annual installment x= ?

1092 = 3x*(1+12(2)/100)
1092 = 3x*(1+24/100)
1092 = 3x*(124/200)
By solving we will get x value 325
:: the annual installment x =Rs.325/-

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

bond  (5 years ago)

Let the installment be Rs. X

T=3 year

Add each installement with interest

(x+((x*12*1)/100) ) + (x+((x*12*1)/100) ) + (x+((x*12*1)/100) ) =1092

^ ^ ^
1st year + 2nd year + 3rd year + 1092 (total ammount)

I think

This is X =325

Is this solution Helpfull? Yes (1) | No   

ravindra   (7 years ago)

1092*36%=393.12

Is this solution Helpfull? Yes | No   

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