Management Aptitude Test 2015 Paper

(a) P = ₹ 4130, T = 7 yr and R = 6%
According to the formula,
Annual payment = $\frac{100\mathit{P}}{100\mathit{T}+\frac{\mathit{R}\mathit{T}\left(\mathit{T}-1\right)}{2}}$
On putting the values of P, R and T in the above formula.
Annual payment
= $\frac{100\times 4130}{100\times 7+\frac{6\times 7\left(7-1\right)}{2}}$
= $\frac{100\times 4130}{100\times 7+\frac{6\times 7\times 6}{2}}$
= $\frac{100\times 4130}{700+126}$
= $\frac{100\times 4130}{826}$
Annual payment = ₹ $\frac{100\times 4130}{826}$ = ₹ 500