A property dealer wishes to buy different houses given in the table below with some down payments and balance in EMI for 25 years. Bank charges 6% per annum compounded monthly.
$\left(\right.$ Given $\left.\frac{(1.005)^{300} \times 0.005}{(1.005)^{300}-1}=0.0064\right)$
|
Property type |
Price of the property (in ₹) |
Down Payment (in ₹) |
|
P |
45,00,000 |
5,00,000 |
|
Q |
55,00,000 |
5,00,000 |
|
R |
65,00,000 |
10,00,000 |
|
S |
75,00,000 |
15,00,000 |
Match List-I with List-II:
|
List-I |
List-II |
|
(A) P |
(I) 25,600 |
|
(B) Q |
(II) 38,400 |
|
(C) R |
(III) 32,000 |
|
(D) S |
(IV) 35,200 |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (A) - (I), (B) - (III), (C) - (IV), (D) - (II)
Loan amount = Price − Down payment.
Given factor for EMI:
$\frac{(1.005)^{300}\cdot0.005}{(1.005)^{300}-1}=0.0064$
So EMI $= \text{Loan}\times0.0064$.
For P:
Loan $=45,00,000-5,00,000=40,00,000$
EMI $=40,00,000\times0.0064=25,600$
So (A) → (I).
For Q:
Loan $=55,00,000-5,00,000=50,00,000$
EMI $=50,00,000\times0.0064=32,000$
So (B) → (III).
For R:
Loan $=65,00,000-10,00,000=55,00,000$
EMI $=55,00,000\times0.0064=35,200$
So (C) → (IV).
For S:
Loan $=75,00,000-15,00,000=60,00,000$
EMI $=60,00,000\times0.0064=38,400$
So (D) → (II).
final answer: (A)–(I), (B)–(III), (C)–(IV), (D)–(II)