Quantitative Aptitude – Arithmetic – Installments – John borrowed Rs. 2,10,000
Slot -1 – Quantitative Aptitude – Arithmetic – Installments – John borrowed Rs. 2,10,000
John borrowed Rs. 2,10,000 from a bank at an interest rate of 10% per annum, compounded annually. The loan was repaid in two equal instalments, the first after one year and the second after another year. The first instalment was interest of one year plus part of the principal amount, while the second was the rest of the principal amount plus due interest thereon. Then each instalment, in Rs., is?
Answer: 121000
Solution:
Let the amount repaid in each installment was x. So
210000×(1.1)^2=x ×1.1+x
210000×1.21=2.1x
Or x=121000
Other posts related to Quantitative Aptitude – Modern Maths
Permutation and Combination – Fundamental Principle of CountingPermutation and Combination – Distribution of Objects
How to find Rank of a Word in Dictionary (With or Without Repetition)
Set Theory- Maximum and Minimum Values
How to solve questions based on At least n in Set Theory for CAT Exam?
Sequence and Series Problems and Concepts for CAT 2017 Exam Preparation
Basic Probability Concepts for CAT Preparation
Online Coaching Course for CAT 2021 + Test Series
a) 1000+ Videos covering entire CAT syllabus
b) 2 Live Classes (online) every week for doubt clarification
c) Study Material & PDFs for practice and understanding
d) 10 Mock Tests in the latest pattern
e) Previous Year Questions solved on video