SSC Selection Post 2024 PYQ — Question 62

The correct answer is option 2 i.e. ₹1,352.

Let each instalment = ₹x

Rate per half-year = $8\over2$% = 4%

The present value of two equal instalments: 

⇒ ${x\over(1+{4\over100})^1}+{x\over(1+{4\over100})^2}$ = 2550

⇒ ${x\over({26\over25})^1}+{x\over({26\over25})^2}$ = 2550

⇒ ${25x\over26}+{25^2x\over26^2}$ = 2550

⇒ ${650x+625x\over26^2}$ = 2550

⇒ 1275x = 2550 × 26²

⇒ x = 1352