Aman took a loan of amount Rs. 6000 from the bank at 5% per annum at 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 last instalment. Find the amount paid by Aman in the last instalment.?

Rs. 2250
Rs. 1750
Rs. 2500
Rs. 2750
Rs. 2000

LohaHridoy

5 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 1 : Rs. 2250

Principal = Rs. 6000

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

⇒ Value of each instalment = 6000/4 = Rs. 1500

We need to calculate the cumulative principal for 4 years,

Since Rs. 1500 is paid in first 3 instalments that means principal is decreasing by Rs. 1500 each year.

⇒ Cumulative Principal = 6000 + 4500 + 3000 + 1500 = Rs. 15000

⇒ Simple interest over the course of 4 years = /100 = Rs. 750

∴ Amount paid by Aman in the last instalment = 1500 + 750 = Rs. 2250

5 views Answered 2022-09-04 04:29

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