car with a price of ₹6,50,000 is bought by making some down payment. On the balance, a simple interest of 10% is charged in lump sum and the money is to be paid in 20 equal annual instalments of ₹25,0...

Read more at: https://cracku.in/57-a-car-with-a-price-of-650000-is-bought-by-making-s-x-ssc-cg…

Question

car with a price of ₹6,50,000 is bought by making some down payment. On the balance, a simple interest of 10% is charged in lump sum and the money is to be paid in 20 equal annual instalments of ₹25,0...

Read more at: https://cracku.in/57-a-car-with-a-price-of-650000-is-bought-by-making-s-x-ssc-cgl-6-dec-2022-shift-2?utm_source=previouspapers&utm_campaign=cotentshare

dejavu · Answer

x is the down payment 
(6,50,000 - x)1.1=20*25000 
x= 195455 approx

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