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Mr. Kunal Dwivedi wants to buy a motorbike which is priced at Rs. 45,000. The bike is also available at Rs. 25,000 down payment and monthly installments of Rs. 1000 per month for 2 years or Rs. 18,000 down payment and monthly instalment of Rs. 1000 per month for 3 years. Mr. Kunal has with him only Rs. 12,000. He wants to borrow the balance money of the down payment from a private money lender whose terms are :
If Rs. 6,000 is borrowed for 12 months, the rate of interest is 20%. The interest will be calculated on the whole amount for the whole year, even though the repayment has to be done in 12 equal monthly instalments starting from the first month itself. Thus he will have to repay an amount of Rs. 600 per month for 12 months to repay Rs. 6000 (Principal) + Rs. 1,200 (Interest @ 20%).
If Rs. 10,000 upwards is borrowed for one year, the rate of interest is 30% and is calculated in exactly the same manner as above.
Mr. Kunal Dwivedi wants to buy a motorbike which is priced at Rs. 45,000. The bike is also available at Rs. 25,000 down payment and monthly installments of Rs. 1000 per month for 2 years or Rs. 18,000 down payment and monthly instalment of Rs. 1000 per month for 3 years. Mr. Kunal has with him only Rs. 12,000. He wants to borrow the balance money of the down payment from a private money lender whose terms are :
If Rs. 6,000 is borrowed for 12 months, the rate of interest is 20%. The interest will be calculated on the whole amount for the whole year, even though the repayment has to be done in 12 equal monthly instalments starting from the first month itself. Thus he will have to repay an amount of Rs. 600 per month for 12 months to repay Rs. 6000 (Principal) + Rs. 1,200 (Interest @ 20%).
If Rs. 10,000 upwards is borrowed for one year, the rate of interest is 30% and is calculated in exactly the same manner as above.
Question: 1
If Mr. Kunal is ready to pay either of the down payments then which of the instalment schemes is the better operation of the two? (Assume that Mr. Kunal will pay the instalments out of his own earnings and he keeps his savings with himself and earns no interest on the same. also assume that instead of borrowing the remaining money for the down payment, he saves the balance before purchase.)
If Mr. Kunal is ready to pay either of the down payments then which of the instalment schemes is the better operation of the two? (Assume that Mr. Kunal will pay the instalments out of his own earnings and he keeps his savings with himself and earns no interest on the same. also assume that instead of borrowing the remaining money for the down payment, he saves the balance before purchase.)
Updated On: Oct 24, 2024
- Rs. 1,000 for 2 years
- Rs. 1,000 for 3 years
- Either of the two
- Data inadequate
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The Correct Option is A
Solution and Explanation
The correct option is (A): Rs. 1,000 for 2 years
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Question: 2
What is the percentage difference in the total amount paid to the bike dealer, between the two instalment schemes with respect to the total payment of the scheme with Rs. 25,000 down payment?
What is the percentage difference in the total amount paid to the bike dealer, between the two instalment schemes with respect to the total payment of the scheme with Rs. 25,000 down payment?
Updated On: Oct 24, 2024
- 11.4\(\%\)
- 13.5\(\%\)
- 10.25
- None of these
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The Correct Option is C
Solution and Explanation
The correct option is (C): 10.25
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Question: 3
If Kunal can spare only a total of Rs. 2,000 to be paid to the bike dealer and the money lender from his monthly earnings starting from the first month onwards, which scheme should be choose?
If Kunal can spare only a total of Rs. 2,000 to be paid to the bike dealer and the money lender from his monthly earnings starting from the first month onwards, which scheme should be choose?
Updated On: Oct 24, 2024
- Rs. 1,000 for 2 years
- Rs. 1,000 for 3 years
- Either of the two
- Data inadequate
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The Correct Option is A
Solution and Explanation
The correct option is (A): Rs. 1,000 for 2 years
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Top Questions on Data Analysis
- How many boxes have at least one sack containing 9 coins?
- _____ the shape of the data set to make it suitable for analysis.
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- The schematic diagram below shows 12 rectangular houses in a housing complex. House numbers are mentioned in the rectangles representing the houses. The houses are located in six columns - Column-A through Column-F, and two rows - Row-1 and Row- 2 . The houses are divided into two blocks - Block XX and Block YY. The diagram also shows two roads, one passing in front of the houses in Row-2 and another between the two blocks.
Some of the houses are occupied. The remaining ones are vacant and are the only ones available for sale.
The road adjacency value of a house is the number of its sides adjacent to a road. For example, the road adjacency values of C2, F2, and B1 are 2, 1, and 0, respectively. The neighbour count of a house is the number of sides of that house adjacent to occupied houses in the same block. For example, E1 and C1 can have the maximum possible neighbour counts of 3 and 2, respectively.
The base price of a vacant house is Rs. 10 lakhs if the house does not have a parking space, and Rs. 12 lakhs if it does. The quoted price (in lakhs of Rs.) of a vacant house is calculated as (base price) + 5 × (road adjacency value) + 3 × (neighbour count).
The following information is also known.
1. The maximum quoted price of a house in Block XX is Rs. 24 lakhs. The minimum quoted price of a house in block YY is Rs. 15 lakhs, and one such house is in Column-E.
2. Row-1 has two occupied houses, one in each block.
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4. There is only one house with parking space in Block YY.
How many houses are vacant in Block XX? [This question was asked as TITA] - There are only three female students - Amala, Koli and Rini - and only three male students - Biman, Mathew and Shyamal - in a course. The course has two evaluation components, a project and a test. The aggregate score in the course is a weighted average of the two components, with the weights being positive and adding to 1 .
The projects are done in groups of two, with each group consisting of a female and a male student. Both the group members obtain the same score in the project.
The following additional facts are known about the scores in the project and the test.
1. The minimum, maximum and the average of both project and test scores were identical – 40, 80 and 60 , respectively.
2. The test scores of the students were all multiples of 10 ; four of them were distinct and the remaining two were equal to the average test scores.
3. Amala's score in the project was double that of Koli in the same, but Koli scored 20 more than Amala in the test. Yet Amala had the highest aggregate score.
4. Shyamal scored the second highest in the test. He scored two more than Koli, but two less than Amala in the aggregate.
5. Biman scored the second lowest in the test and the lowest in the aggregate.
6. Mathew scored more than Rini in the project, but less than her in the test.
What was Rini's score in the project?(This Question was asked as TITA) - There are nine boxes arranged in a 3×3 array as shown in Tables 1 and 2. Each box contains three sacks. Each sack has a certain number of coins, between 1 and 9, both inclusive.
The average number of coins per sack in the boxes are all distinct integers. The total number of coins in each row is the same. The total number of
coins in each column is also the same.
Table 1 gives information regarding the median of the numbers of coins in the three sacks in a box for some of the boxes. In Table 2 each box has a number which represents the number of sacks in that box having more than 5 coins. That number is followed by a * if the sacks in that box satisfy exactly one among the following three conditions, and it is followed by ** if two or more of these conditions are satisfied.
i) The minimum among the numbers of coins in the three sacks in the box is 1.
ii) The median of the numbers of coins in the three sacks is 1.
iii) The maximum among the numbers of coins in the three sacks in the box is 9.
In how many boxes do all three sacks contain different numbers of coins? [This Question was asked as TITA]
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Ajay would do five tasks: A, B, C, D and E, starting at 9:00 a.m. A is the first task and takes 2 hours. B can be done after A is complete and requires 1 hour. Work on C, which would take 1 hour, can start only after A and B are completed. Ajay can do task D along with B and C, and would take 3 hours. Activity E, with duration of 1 hour, can start upon completion of A, B, C and D.- NMAT - 2022
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