Bissoy.com
Doctors Medicines MCQs Q&A

An online portal introduces two schemes for their customers, during a sale on a car whose price is Rs. 500000. In scheme 1 the online portal offers a discount of 20% and in scheme 2 the online portal sells the car at a down payment of Rs. 125000 with 3 equal yearly installment of Rs. 117000. Assuming that the online portal invests its money at compound interest of 10% compounded annually, which offer is more profitable for them and by how much at the end of 3 years?

An online portal introduces two schemes for their customers, during a sale on a car whose price is Rs. 500000. In scheme 1 the online portal offers a discount of 20% and in scheme 2 the online portal sells the car at a down payment of Rs. 125000 with 3 equal yearly installment of Rs. 117000. Assuming that the online portal invests its money at compound interest of 10% compounded annually, which offer is more profitable for them and by how much at the end of 3 years? Correct Answer Rs. 21245 in scheme 2<sup>nd</sup>

Given:

Price of car = Rs. 500000.

In scheme 1st the online portal offers a discount of 20%.

In scheme 2nd the online portal sells the car at a down payment of Rs. 125000 with 3 equal yearly installment of Rs. 117000.

The online portal invests its money at compound interest of 10% compounded annually

Formula used:

A = p (1 + R/100)n

Calculation:

In scheme 1

The S.P of car = 500000 × 8/10 = Rs. 400000

Since, the online portal invests its money at compound interest of 10%, interest is being compounded annually

So, the money earned by the online portal after 3 years = 400000 (1 + 10/100)3 = Rs. 532400

In scheme 2

Since down payment = Rs. 125000

And equal installment = Rs. 117000

So, the money earned by the online portal after 3 years

= 125000 (1.1)3 + 117000 (1.1)2 + 117000 (1.1) + 117000

⇒ 166375 + 141570 + 128700 + 117000

⇒ 553645

So,

The online portal will earn (553645 – 532400) more in scheme 2

Hence, Rs. 21245 more money will be earned in scheme 2

Related Questions

Given below are two quantities named A and B. Based on the given information, you have to determine the relationship between the two quantities. You should use the given data and knowledge of Mathematics to choose between the possible answers. Quantity A: A mobile is sold for Rs. 15000 in cash. There is an installment plan under which customer had to make a down payment of Rs. 8000 and an installment of Rs. 9000 after a month. Find the rate of interest for the installment plan. Quantity B: A mobile is sold for Rs. 20000 in cash. There is an installment plan under which customer had to make a down payment of Rs. 10000 and an installment of Rs.11000 after a month. Find the rate of interest for the installment plan.
Rahul invested equal sums of money at compound interest under two schemes A and B. Under scheme A, the interest rate was 10% per annum and under scheme B, the interest rate was 12% p.a. The compound interest after two years on the sum invested in scheme A was Rs. 1,050. How much is the interest earned under scheme B after two years, if the interest is compounded annually in both schemes?
Shashi had a certain amount of money. He invested $$\frac{2}{3}$$ of the total money in scheme A for 6 years and rest of the money he invested in scheme B for 2 years. Scheme A offers simple interest at a rate of 12% p.a. and scheme B offers compound interest ( compound annually) at a rate of 10% p.a. If the total interest obtained from both the schemes is Rs. 2750. What was the total amount invested by him in scheme A and scheme B together ? (Approximate value)
In the following question, two statements are numbered as A and B. On solving these statements, we get quantities A and B respectively. Solve both quantities and choose the correct option. Quantity I: A shopkeeper sells an item with a discount on Online payment and without discount on Offline payment. The marked price of an item is Rs. 500. He offers a discount of 5% for online payment. He sells two items one with discount and another without a discount. The profit percentage on the whole transaction is 21.875%. Find the cost price of an item. Quantity II: Rs. 350
Suresh took a loan of Rs. 40,000 from a bank at simple interest of 25% p.a. interest for 2 years. He invested for two years compounded annually and earned an interest of Rs. 7999.2 He invested remaining amount in scheme Q which offers 10% p.a. more rate of compounded interest than scheme P for two years compounded annually. Then, find the total profit made by Suresh after paying the interest to bank?
Given below are two quantities named 1 and 2. Based on the given information, you have to determine the relation between the two quantities. You should use the given data and your knowledge of Mathematics to choose between the possible answers. A person invests in two schemes. In the first scheme, he invests Rs. 30000 for six months, which earns simple interest of 7% annually. In the 2nd scheme, he invests Rs. 10000 monthly at 36% annual CI compounded monthly for three months. Quantity 1: Interest from 1st scheme Quantity 2: Interest from 2nd scheme
The question below is followed by statements I, II, and III. You have to determine whether the data given in the statement is sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose the best possible answer. The difference between the compound interest and simple interest on a certain sum at a certain rate of interest per annum for two years is 204.20. What is the amount received on the sum of compound interest at the same rate of interest at the end of three years. I. The difference between the compound interest and the simple interest on the sum for three years is 804.258. II. The sum becomes Rs. 14528 at the end of one year. III. The compound interest on the sum for two years is 7% more than the simple interest on the sum for two years.
Rithika had Rs 8000. She invested some of it in savings scheme P and the rest ofthe money in savings scheme Q. She invested for 3 years in savings scheme P and for2 years in savings scheme Q. savings scheme P offers SI at a rate of 20% pa whilesavings scheme Q compounded annually at the rate of 30% pa. The interest receivedfrom savings scheme P is 930 more than the interest received from savings scheme Q.If Rs 1500 is debited from the invested amount of savings scheme P then find thedifference between the amount invested by Rithika in savings scheme P & savingsscheme Q.
Suraj invested a total of Rs 16000 in two schemes A and B. Out of the total money he invested some amount in scheme A which offers simple interest at the rate of 6% per annum for 2 years and the other amount in scheme B which offers interest at the rate of 11% per annum for 2 years. At the end of 2 years he found that the interest received from scheme B is Rs 120 more than the interest received from scheme A then find out amount invested in scheme B?
Vishnu has some amount of money and he invested the money in two schemes X and Y in the ratio of 2 : 5 for 2 years, scheme X offers 30% pa compound interest and scheme Y offers 15% pa Simple interest. The difference between the interest earned from both the schemes is Rs. 10800. How much was invested in scheme Y?