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SSC Sample Paper SSC CGL - Sample Paper-14

  • question_answer
    A sum of Rs. 13360 was borrowed at \[8\frac{3}{4}%\] per annum compound interest and paid back in two years in two equal annual instalments. What was the amount of each instalment?

    A) Rs. 5769           

    B) Rs. 7569

    C) Rs. 7009                       

    D) Rs. 7500

    Correct Answer: B

    Solution :

    Let each instalment be = Rs. x. \[\frac{x}{{{\left( 1+\frac{35}{400} \right)}^{2}}}+\frac{x}{\left( 1+\frac{35}{400} \right)}=13360\] \[\Rightarrow \]   \[\frac{x}{{{\left( 1+\frac{7}{80} \right)}^{2}}}+\frac{x}{\left( 1+\frac{7}{80} \right)}=13360\] \[\Rightarrow \]   \[\frac{6400x}{7569}+\frac{80x}{87}=13360\] \[\Rightarrow \]   \[\frac{6400x+6990x}{75690}=13360\] \[\Rightarrow \]   \[13360x=13360\times 7569\] \[\Rightarrow \]   \[x=Rs.7569\]


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