If there is a total of 104 weekly instalments and a third deposit, find the inte

Question

If there is a total of 104 weekly instalments and a third deposit, find the interest charged

Options:

A . 237.55

B . 337

C . 443

D . 334

Answer: Option A
CASH PRICE = $3695
DEPOSIT =1/3 OF $3695
= $1231.67
LOAN AMOUNT = $3695.00 − $1231.67
= $2463.33
TOTAL COST OF LOAN = $25.97 × 104
= $2700.88
INTEREST CHARGED = TOTAL AMOUNT − LOAN
I = A − P
= 2700.88 − 2463.33
= 237.55

Was this answer helpful ?

Next Question

Submit Comment/FeedBack

More Questions on This Topic :

Question 1. A car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the....is charged at 12% p.a. What is the monthly installment?

Question 2. What annual installment will discharge a debt of Rs 1092 due in 3 years at 12% simple interest?....

Question 3. How much time will it take for an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest?....

Question 4. A sum was put a simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched ....it would have fetched Rs. 60 more. The sum is:________?

Question 5. A sum of money becomes 7⁄5 of itself in 4 years at a certain rate of simple interest. The rate per annum is :....

Question 6. A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 m....both the loans. What was the original rate of interest?

Question 7. A lends Rs. 1500 to B and a certain sum to C at the same time at 8% per annum simple interest. If after 4 years, A altog....B and C, then the sum lent to C is________?

Question 8. Mr. Tassawar Javed invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate....Rs. 3508, what was the amount invested in Scheme B?

Question 9. An amount of 5,000 is invested at a fixed rate of 8 per cent per annum. What amount will be the value of the investment ....years time, if the interest is compounded every six months?

Question 10. The simple interest on Rs.500 at 6% per annum from May 3rd to July 15th in the same year is_________?....

Latest Videos

Chapter 1 - GLOBAL STEEL SCENARIO & INDI Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

Latest Test Papers

Chapter 3.1 : Overview of Finance & Acco Chapter 3 : Finance & Accounts SAIL E0 - GFM 2024

Chapter 2.1 : Overview Chapter 2 : Materials Management SAIL E0 - GFM 2024

Chapter 1.1 : Personnel Functions- An ov Chapter 1 : Personnel Management SAIL E0 - GFM 2024

GPOE / GPA Combined 1 Free CBT Mock Test SAIL E0 2024

CBT Mixed Test 1 GPOE/GPA SAIL E0 2024

Menu

Popular Courses

Search

Submit Comment/FeedBack

More Questions on This Topic :

Latest Videos

Latest Test Papers