Question
A person 'X' borrowed Rs. 4,000 from a bank on simple interest, which is to be repaid in three equal annual installments. The rate of interest charged by the bank is 25% per annum. Determine the approximate amount of each installment.
More Simple and compound interest Questions
- A builder borrows Rs.195100 to be paid back with CI at the rate of 4% per annum in three equal yearly installments. How much will each installment will?
- Rahul invested a certain amount at a simple interest rate of 8% per annum, and after 6 years, it grew to Rs. 1,850. If he had instead invested the same sum...
- A sum of money lent at compound interest at the rate of 10% per annum is paid back in three equal instalments of Rs 3,993. Find the sum?
- Karan saved Rs. x in a fixed deposit at 12% simple interest per annum. If the total interest after 5 years amounts to Rs. ‘1.8x – 1000’, determine the valu...
- What will be the amount if a sum of Rs. 5000 is placed at compound interest for 3 years while the rate of interest for the first, second and third years is...
- Find the simple interest on ₹5000 at 7% p.a. from 10 March 2023 to 24 May 2023.
- A sum of money doubles itself in 8 years in how many years it will be 5 times?
- A person earns Rs. 240 as compound interest on a sum for 2 years at 3% per annum, compounded yearly. What would be the simple interest on the same amount a...
- 'X' deposited a total of 40% of his monthly salary in two SIPs, P and Q. SIP P offers compound interest at the rate of 10% p.a., compounded annually, while...
- A certain sum of money is amount to Rs. 62500 in 3 years at 25% per annum compounded annually, what is the sum of money?
Relevant for Exams:
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
- 200 Questions with Detailed Solutions
- Section-wise Coverage (GA, English, Quant & Reasoning)