Xavier Aptitude Test 2019 Paper

Question : 54 of 98

Marks: +1, -0

A computer is sold either for Rs.19200 cash or for Rs.4800 cash down payment together with five equal monthly installments. If the rate of interest charged is 12% per annum, then die amount of each installment (nearest to a rupee) is:

Rs. 2880
Rs.2965
Rs. 3016
Rs. 2896
Rs. 2990

Validate

Solution:

19200-4800=14400

Now,

14400+{14400×12×5}/{100×12}

=x+(x+{x×12×1}/{100×12})

+(x+{x×12×2}/{100×12})

+(x+{x×12×3}/{100×12})

(x+{x×12×4}/{100×12})

⇒15120=5x+(x/100+{2x}/100+{3x}/100+{4x}/100)

⇒x=151200/51=2965(\approx)

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