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SSC Selection Post 2023 PYQ — Question 55

SSC Selection Post - Matriculation Level - 28 June 2023 - Shift 4 • Quantitative Aptitude • Q55

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Ravi borrowed ₹1,380 from a bank which he repaid in 6 years at the rate of 6% per annum simple interest. If payment was made in six equal instalment, then each instalment was:

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Correct answer: B

Explanation

The correct answer is Option 2 i.e. ₹200

Installment = A×100100t+R⋅t(t−1)2\frac{A \times 100}{100t + \frac{R \cdot t(t - 1)}{2}}

A = Amount , R = rate , t = time 

Installment = 1380×100100⋅6+6⋅6⋅52\frac{1380 \times 100}{100 \cdot 6 + \frac{6 \cdot 6 \cdot 5}{2}} = 138000600+90=138000690=₹200\frac{138000}{600 + 90} = \frac{138000}{690} = ₹{200}