Sunil borrows Rs. 2275 and promises to pa… | Answer

Subject

Quantitative Aptitude

Topic

Interest

Sunil borrows Rs. 2275 and promises to pay back with compound interest at 20% p.a. in 3 early equal installments at the end of first, second and third year. Find the amount of each installment.
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ক)

Rs. 1080

খ)

Rs. 864

গ)

Rs. 1036

ঘ)

Rs. 993

ঙ)

None of these

Explanation

The value of 2275 after 3 years = the value of the first installment after 2 year + the value of second installment after 1 year + the value of third installment Let the amount of installment be x

\Rightarrow \;2275\;{\left( {1 + \frac{{20}}{{100}}} \right)^3}\; = \;x\;{\left( {1 + \frac{{20}}{{100}}} \right)^2}\; + \;x\;{\left( {1 + \frac{{20}}{{100}}} \right)^1}\; + \;x

\Rightarrow \;2275\;\left( {\frac{{216}}{{125}}} \right)\; = \;x\;\left( {\frac{{36}}{{25}}} \right)\; + \;x\left( {\frac{6}{5}} \right)\; + \;x

\Rightarrow \;2275\;\left( {\frac{{216}}{{125}}} \right)\; = \left( {\frac{{\;36 + 30 + 25}}{{25}}} \right)\;x

\Rightarrow \;2275\;\left( {\frac{{216}}{{125}}} \right)\; = \;\frac{{91}}{{25}}\;\;x

\Rightarrow \;x\; = \;\frac{{\;2275 \times 216 \times 25}}{{125 \times 91}}

⇒ x = 1080 Hence, Amount of each investment is Rs. 1080

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Sunil borrows Rs. 2275 and promises to pay back with compound interest at 20% p.a. in 3 early equal installments at the end of first, second and third year. Find the amount of each installment.Reading

Sunil borrows Rs. 2275 and promises to pay back with compound interest at 20% p.a. in 3 early equal installments at the end of first, second and third year. Find the amount of each installment.

Explanation

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Sunil borrows Rs. 2275 and promises to pay back with compound interest at 20% p.a. in 3 early equal installments at the end of first, second and third year. Find the amount of each installment.
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