CUET Preparation Today
CUET
General Test
Numerical Ability
Compound Interest
A man borrows a sum of ₹1,025 and pays back in two equal yearly instalments. If the rate of interest is 5% p.a, compounded yearly, then how much is each instalments? |
₹425.25 ₹525.32 ₹451.32 ₹551.25 |
₹551.25 |
Rate of interest = 5% = 120 Principal Amount 1st installment 20 : 21 2nd installment 20² : 21² { As both installment are equal, So multiply 1st by 21 } 1st installment 20×21 : 21×21 ------------------------------------------------------------------------ 820 : 882 ATQ, 820R = 1025 1R = 1.25 Now, Amount of each installment = 441 × 1.25 = Rs. 551.25
|