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Simple Interest and Compound Interest

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?

2 Thanks
Ansh Gupta 8 months ago
Its D 28800
shubham bharti 10 months ago
0%
newjetnet 7 months ago
Vidya Ratan Shah 10 months ago
Solution for the question?
ag 1994 10 months ago
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 59%
  4. D 5100.00 3%
  5. E 5355.00 5%
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2 Thanks 39 Attempts 3 Comments
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.
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