SSC CHSL 16 Apr 2021 Shift 2 Paper

Section: Quantitative Aptitude

Question : 66 of 100

Marks: +1, -0

A mobile phone is available for

₹ 79860

by cash payment or by paying cash of

₹ 60000

as down payment and the remaining amount in three equal annual installments.
If the shopkeeper charges interest at the rate of

10 \%

p.a. compounded annually, then the amount of each installment (in ₹) will be

Solution:

Total amount

=₹ 79860

Down payment

=₹ 60000

∴

Remaining payment

=79860-60000=₹ 19860

Now According to the question,
Amount of each installment

=\;{19860}/{(\;{100}/{100+10})^{1}+(\;{100}/{100+10})^{2}}

+(\;{100}/{100+10})^{3}

{\{x=\;{P}/{(\;{100}/{100+r})+(\;{100}/{100+r})^{2}}

+. . .+(\;{100}/{100+r})^{n} \}

=\;{19860}/{{10}/{11}+\;{100}/{121}+\;{1000}/{1331}}

=\;{\;{19860}/{1210+1100+1000}}/{1331}

=\;{19860 × 1331}/{3310}=₹ 7986

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