model 5 ci with instalments Practice Questions Answers Test with Solutions & More Shortcuts

Question : 6 [SSC CPO S.I.2009]

A loan of Rs.12,300 at 5% per annum compound interest, is to be repaid in two equal annual instalments at the end of every year. Find the amount of each instalment.

a) Rs.6,156

b) Rs.6,651

c) Rs.6,516

d) Rs.6,615

Question : 7 [SSC CGL Prelim 2007]

A man buys a scooter on making a cash down payment of Rs.16224 and promises to pay two more yearly instalments of equivalent amount in next two years. If the rate of interest is 4% per annum, compounded yearly, the cash value of the scooter, is

a) Rs.50000

b) Rs.40000

c) Rs.46000

d) Rs.46824

Question : 8 [SSC CGL Tier-II 2015]

A sum of money is paid back in two annual instalments of Rs. 17, 640 each, allowing 5% compound interest compounded annually. The sum borrowed was

a) Rs.32,400

b) Rs.32,800

c) Rs.32,000

d) Rs.32,200

Question : 9 [SSC CGL Tier-II 2015]

Rs. 16,820 is divided between two brothers of age 27 years and 25 years. They invested their money at 5% per annum compound interest in such a way that both will receive equal money at the age of 40 years. The share (in Rs.) of elder brother is

a) 8,000

b) 8,280

c) 8,820

d) 8,410

Question : 10 [SSC CHSL 2015]

The income of a company increases 20% per year. If the income is Rs. 26,64,000 in the year 2012, then its income in the year 2010 was :

a) Rs.21,20,000

b) Rs.28,55,000

c) Rs.28,20,000

d) Rs.18,50,000