Question 12
25,000/- is borrowed at compound interest at the rate of 3% for first year, 4% for $$2^{nd}$$ year and 5% for $$3^{rd}$$ year. Find the amount to be paid after 3 years.
Solution
Principal sum to be borrower = Rs. 25,000
Amount when compounded annually = $$P(1+\frac{R}{100})^T$$
=> Amount to be paid after 3 years = $$25,000(1+\frac{3}{100})$$ $$(1+\frac{4}{100})$$ $$(1+\frac{5}{100})$$
= $$250\times103\times\frac{26}{25}\times\frac{21}{20}$$
= $$103\times13\times21=Rs.$$ $$28,119$$
=> Ans - (D)
Video Solution
Create a FREE account and get:
- All Quant Formulas and shortcuts PDF
- 40+ previous papers with detau solutions PDF
- Top 500 MBA exam Solved Questions for Free
CAT Quant Questions | CAT Quantitative Ability
CAT Profit, Loss and Interest QuestionsCAT Probability, Combinatorics QuestionsCAT Functions, Graphs and Statistics QuestionsCAT Mensuration QuestionsCAT Time, Distance and Work Questions
CAT DILR Questions | LRDI Questions For CAT
CAT Quant Based LR QuestionsCAT Data Interpretation Basics QuestionsCAT Puzzles QuestionsCAT DI with connected data sets QuestionsCAT Arrangement Questions
