Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The annual installment that will discharge a debt of Rs. 5760 in 3 years at 10% simple interest per annum is:

Options:

Rs. 700

Rs. 950

Rs. 1600

Rs. 1250

Correct Answer:

Rs. 1600

Explanation:

Let each installment be x,

(x + \(\frac{x × 10}{100}\) ) + (x + \(\frac{x × 20}{100}\)) + (x + \(\frac{x × 30}{100}\) )= 5760

⇒ (\(\frac{10x + x}{10}\) ) + (\(\frac{5x + x}{10}\) ) + (\(\frac{10x + 3x}{10}\)) = 5760

⇒ (\(\frac{36x}{10}\) )= 5760

x = 1600