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× A person buys loan of rs 45000 from a bank at compound interest at the rate of 10 %. HE REPAYS it in the three annual installment that are in arithmetic progrsson. He ends up paying 54000 in all. How much did he pay in first year?

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× denil shah 2 months ago
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× Vidya Ratan Shah 1 year ago
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r= 10% Question of the Day!
[Appeared XAT 2012]
Topic: Arithmetic
A man borrows 6000 at 5% interest, on reducing balance, at the start of the year. If he repays 1200 at the end of each year, find the amount of loan outstanding, in , at the beginning of the third year.

1. A 3162.75 15%
2. B 4125.00 18%
3. C 4155.00 58%
4. D 5100.00 5%
5. E 5355.00 5%
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× Shashank Jaiswal 1 year ago
Amount at the end of the 1st year after repayment = (6000 * 1.05)

- 1200 = 5,100.

Therefore, amount at the beginning of the 2nd year will be 5,100

Amount at the end of the 2nd year after repayment = (5,100 *

1.05) - 1200 = 4,155.

Therefore, amount at the beginning of the 3rd year will be 4,155. Open in App