Select Goal &
City
Select Goal
Explore
Question:
Bhiku borrowed some money from Dhanraj to admit his daughter in a reputed Law School. He agreed to pay the interest-free loan of ₹ 60, 000 in a monthly installments which increased by a constant amount. After the 20th installment, he found that he has paid 3/4 of the loan. If the entire loan was cleared this way in 25 installments, find out the value of the first installment.
Bhiku borrowed some money from Dhanraj to admit his daughter in a reputed Law School. He agreed to pay the interest-free loan of ₹ 60, 000 in a monthly installments which increased by a constant amount. After the 20th installment, he found that he has paid 3/4 of the loan. If the entire loan was cleared this way in 25 installments, find out the value of the first installment.
Updated On: Aug 5, 2024
- ₹ 1560
- ₹ 1067
- ₹ 1680
- ₹ 1987
Hide Solution
Verified By Collegedunia
The Correct Option is C
Solution and Explanation
The correct option is (C):₹ 1680.
Was this answer helpful?
0
0
Top Questions on SI & CI
- An amount of Rs 10000 is deposited in bank A for a certain number of years at a simple interest of 5% per annum. On maturity, the total amount received is deposited in bank B for another 5 years at a simple interest of 6% per annum. If the interests received from bank A and bank B are in the ratio 10 : 13, then the investment period, in years, in bank A is
- Ramesh invests 1,200 at 5% simple interest. How much additional money must he invest at 8% simple interest so that his total annual income will be equal to 6% of his total investment during this year?
- S invested 22,000 for 6 years at a 4% rate compounded half-yearly. B also invested a certain amount of money for 5 years in the same scheme and then reinvested it for a year at a 10% rate of simple interest. If their total amounts become the same after 6 years, what was B’s initial investment?
- A certain sum of money becomes Rs. 28,000 in 4 years at 10\(\%\) simple interest. What is the principal amount?
- Sarah's age is now five times that of her nephew Jack. If Jack will be 11 years old, in 3 years, how old will Sarah be then?
View More Questions
Questions Asked in AILET exam
- If in a certain code LIGHT is NFLAE, then TABLE would be ____
- AILET BALLB (Hons.) - 2024
- Coding Decoding
- If in a certain code TALK is YUPC, then LISTEN would be ____
- AILET BALLB (Hons.) - 2024
- Coding Decoding
- Joseph must decide which songs - A, B, C, D, and E - to sing in a 5-day performance schedule, with each song being performed only on one day, in accordance with the following conditions:
I. C and D must not be scheduled on adjacent days.
II. B may immediately follow E, but not vice-versa.
III. The first day must either be A or C.
IV. The last day cannot be D.
If B is the mid-point of the performance schedule, which of the following is a valid 5-day schedule? - “All paintings jump. Some paintings are plants. All basketballs are plants.” Dragon is a plant that jumps. Which of the following is true?
- Statements: Young adults spend most of their time on social media. Young adults should spend more time making connections in the real world.
Conclusions
I. Young Adults should avoid social media.
II. Young adults cannot make real life connections because they spend most of their time on social media.
Which of the following conclusions can be properly inferred? Choose the most appropriate answer.- AILET BALLB (Hons.) - 2024
- Statements and Inferences
View More Questions
SUBSCRIBE TO OUR NEWS LETTER
COLLEGE NOTIFICATIONSEXAM NOTIFICATIONSNEWS UPDATES
Download the Collegedunia app on 
© 2024 Collegedunia Web Pvt. Ltd. All Rights Reserved