SSC CHSL Model Paper 17

Question : 74 of 100

Marks: +1, -0

Mohit takes certain sum of money from a bank @ 10% p.a. compound interest. He clears his debt by paying two equal installments of Rs. 1000 each at the end of first and second year. Find the money he borrowed.

Rs. 1852
Rs. 1736
Rs. 1694
Rs. 1792

Validate

Solution:

∴ Principle

= \P_ + \P_2

x Installment for first year

=\P_1 ×(1+10/100)

1000=\P_1×{11\ϕ}/{10\ϕ}

\P_1={100×100}/11

={10,000}/11

=909.09(\approx)

for 2nd year

100=\P_2×11/10×11/10

{100000}/121=\P_2

\P_2=826.4

∴\P_1+\P_2=909+826

=\Rs. 1736

(approx)

Go to Question:

Prev Question

Next Question