Question
Arjun acquired a smartphone with a price tag of Rs.
18,000. For the initial payment, he paid Rs. 2,160. The remainder was to be paid in two equal installments, but with a twist. The installments were subject to compound interest at a rate of 20% per annum, compounded annually. Calculate the value of each installment.Solution
ATQ, Amount due after down payment = 18000 – 2160 = Rs. 15,840 Let the amount of each instalment be Rs. ‘a’ Amount to be paid at the end of 1st year = 1.2 × 15840 = Rs. 19,008 According to the question, 1.2 × (19008 – a) = a Or, 1.2 × 19008 – 1.2a = a Or, 2.2a = 1.2 × 19008 Or, a = {(1.2 × 19008)/2.2} = 10368 Therefore, each installment = Rs.10,368
- The Igla-S Missile system is developed by which country?
The Jal Jeevan Mission was extended until which year with an enhanced outlay?
When was the Competition Commission of India (CCI) established by the Central Government?
Who among the following is the author of “Prithvirajaraso”?
Consider the following statements about inflation:
1. Inflation erodes the purchasing power of money.
2. Cost-push inflation occurs due to...
- The 73rd Constitutional Amendment (1992) fulfilled the obligation under which Article?
- Which virus is responsible for causing Swine Flu?
- Tax rates on higher income groups have been increased resulting in ________.
Deforestation causes:
- Which organization launched the Shuddhi Movement?