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SSC Sample Paper SSC (Group-C) Sample Test Paper-2

  • question_answer
    A man borrows Rs. 2000 at 10% compound Interest. If he repays Rs. 500 at the end of each year, then the amount of loan outstanding at the beginning of the third year' is equal to:

    A)  Rs. 1300           

    B)  Rs. 1340

    C)  Rs. 1370             

    D)  Rs. 1400

    Correct Answer: C

    Solution :

     Interest of first year \[=\frac{P\times R\times T}{100}=\frac{2000\times 10\times 1}{100}\]\[=200\] Pays Rs. 500 in the last of the year. \[\therefore \] Total payable amount for the second year = 2000 + 200 - 500 = 1700 Interest of Second\[=\frac{1700\times 10\times 1}{100}=170\] Pays Rs. 500 in the last of the year. \[\therefore \] Total payable amount for the third year = (1700 + 170 - 500) Debt =1370


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