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SSC CPO 2024 PYQ — Question 144

SSC CPO - 27 June 2024 - Shift 2 • Quantitative Aptitude • Q144

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What annual installment will discharge a debt of ₹10,192 due in 3 years at 10% simple interest?

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Correct answer: B

Explanation

The correct answer is Option 2 i.e. Rs. 3088.48.

The debt of ₹10,192 is due in 3 years at 10% simple interest.

installment = A×100100×T+RT(T−1)2\frac{A × 100}{100\times {T}+RT \frac{(T-1)}{2}}

 installment = 10192×100100×3+10×3(3−1)2\frac{10192 × 100}{100\times {3}+10\times3 \frac{(3-1)}{2}}

= 1019200/330

= Rs 3088.48