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SSC Selection Post 2024 PYQ — Question 64

SSC Selection Post - Matriculation Level - 25 June 2024 - Shift 1 • Quantitative Aptitude • Q64

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The amount of debt that will be discharged by 5 equal monthly instalments of ₹1,845 each, at the rate of 48% simple interest per annum, is:

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Correct answer: D

Explanation

The correct answer is Option 4 i.e. ₹9,963.

SI = PTR100PTR\over100

Rate = 48% per annum

Rate per month = 48/12 = 4 months

Total installments = 5

Total interest = 1845×4×41001845×4×4\over100 + 1845×3×41001845×3×4\over100 + 1845×2×41001845×2×4\over100 + 1845×1×41001845×1×4\over100 + 1845×0×41001845×0×4\over100

⇒ 295.2 + 221.4 + 147.6 + 73.8 + 0 = ₹738

Total debt = 5 × 1845 + 738 = 9225 + 738 = ₹9963