Ishan took a loan of amount Rs. 500000 from the bank at 12.5% per annum SI. He pays the amount in 4 instalments out of which first three instalments are 1/4th of the principal amount and the rest amount is paid in the last instalment. Find the amount paid by Ishan in the last instalment.?

Rs. 252500
Rs. 250000
Rs. 281250
Rs. 272450

LohaHridoy

5 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 3 : Rs. 281250

Principal = Rs. 500000

Since first three instalments are 1/4^th of the principal amount;

∴ Value of each instalment = 500000/4 = Rs. 125000

We need to calculate the cumulative principal for 4 years∶

Since Rs. 125000 is paid in first 3 instalments that means principal is decreasing by Rs. 125000 each year∶

∴ Cumulative Principal = 500000 + 375000 + 250000 + 125000 = Rs. 1250000

∴ Simple interest over the course of 4 years = /100 = Rs. 156250

∴ Amount paid by Ishan in the last instalment = 125000 + 156250 = Rs. 281250

5 views Answered 2022-09-04 04:29

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