Question:
One can purchase a flat from a house building society for Rs. 55,000 cash or on the terms that he should pay Rs. 4,275 as cash down payment and the rest in three equal yearly instalments. The society charges interest at the rate of 16\(\%\) per annum compounded half yearly. If the flat is purchased under instalment plan, find the value of each instalment
One can purchase a flat from a house building society for Rs. 55,000 cash or on the terms that he should pay Rs. 4,275 as cash down payment and the rest in three equal yearly instalments. The society charges interest at the rate of 16\(\%\) per annum compounded half yearly. If the flat is purchased under instalment plan, find the value of each instalment
Updated On: Sep 25, 2025
- Rs. 39,683
- Rs. 19,683
- Rs. 29,683
- Rs. 9,683
Show Solution
Verified By Collegedunia
The Correct Option is B
Solution and Explanation
The correct option is (B): Rs. 19,683
Was this answer helpful?
0
0
Top NMAT Quantitative Aptitude Questions
- Vineet calculates his profit percentage on the selling price whereas Roshan calculates his profit on the cost price. They find that the difference of their profits is Rs. 275. If the selling price of both of them are the same, and Vineet gets 25\(\%\) profit and Roshan gets 15\(\%\) profit, then find their selling price.
- A man sells two horses for Rs. 1475. The cost price of the first is equal to the selling price of the second. If the first is sold at 20\(\%\) loss and the second at 25\(\%\) gain, what is his total gain or loss (in rupees)?
- A farmer sold a cow and an ox for Rs. 800 and got a profit of 20\(\%\) on the cow and 25\(\%\) on the ox. If he sells the cow and the ox for Rs. 820 and gets a profit of 25\(\%\) on the cow and 20\(\%\) on the ox, the individual cost price of the cow and the ox is
- Arun borrowed a sum of money from Jayant at the rate of 8\(\%\) per annum simple interest for the first four years, 10\(\%\) per annum for the next 6 years and 12\(\%\) per annum for the period beyond 10 yerras. If he pays a total of Rs. 12,160 as interest only at the end of 15 years, how much money did he borrow?
- A sum of Rs. 1,440 is lent out in three parts in such a way that the interests on first part at 2\(\%\) for 3 years, second part at 3\(\%\) for 4 years and third part at 4\(\%\) for 5 years are equal. Then the difference between the largest and the smallest sum is
View More Questions
Top NMAT SI & CI Questions
- Arun borrowed a sum of money from Jayant at the rate of 8\(\%\) per annum simple interest for the first four years, 10\(\%\) per annum for the next 6 years and 12\(\%\) per annum for the period beyond 10 yerras. If he pays a total of Rs. 12,160 as interest only at the end of 15 years, how much money did he borrow?
- A sum of Rs. 1,440 is lent out in three parts in such a way that the interests on first part at 2\(\%\) for 3 years, second part at 3\(\%\) for 4 years and third part at 4\(\%\) for 5 years are equal. Then the difference between the largest and the smallest sum is
- A sum of Rs. 18,750 is left by will by a father to be divided between two sons, 12 and 14 years of age, so that when they attain maturity at 18, the amount (principal + interest) received by each at 5 per cent simple interest will be the same. Find the sum allotted at present to each son.
- A man borrows Rs. 4,000 at 20\(\%\) compound rate of interest. At the end of each year he pays back Rs. 1,500. How much amount should he pay at the end of the third year to clear all his dues?
- The compound interest accrued on an amount of Rs, 18000 at the end of three years is Rs 5,958. What would be the simple interest accrued on the same amount at the same rate in the same period?
Top NMAT Questions
- Vineet calculates his profit percentage on the selling price whereas Roshan calculates his profit on the cost price. They find that the difference of their profits is Rs. 275. If the selling price of both of them are the same, and Vineet gets 25\(\%\) profit and Roshan gets 15\(\%\) profit, then find their selling price.
- A man sells two horses for Rs. 1475. The cost price of the first is equal to the selling price of the second. If the first is sold at 20\(\%\) loss and the second at 25\(\%\) gain, what is his total gain or loss (in rupees)?
- A farmer sold a cow and an ox for Rs. 800 and got a profit of 20\(\%\) on the cow and 25\(\%\) on the ox. If he sells the cow and the ox for Rs. 820 and gets a profit of 25\(\%\) on the cow and 20\(\%\) on the ox, the individual cost price of the cow and the ox is
- Arun borrowed a sum of money from Jayant at the rate of 8\(\%\) per annum simple interest for the first four years, 10\(\%\) per annum for the next 6 years and 12\(\%\) per annum for the period beyond 10 yerras. If he pays a total of Rs. 12,160 as interest only at the end of 15 years, how much money did he borrow?
- A sum of Rs. 1,440 is lent out in three parts in such a way that the interests on first part at 2\(\%\) for 3 years, second part at 3\(\%\) for 4 years and third part at 4\(\%\) for 5 years are equal. Then the difference between the largest and the smallest sum is
View More Questions