Arithmetichard · Past Paper
A man borrows Rs 4000 at 5% p.a. compound interest. He repays Rs 500 at the end of each year. How much does he owe after 2 years?
ARs 3300
BRs 3410
CRs 3510
DRs 3210
✓ Correct Answer: B — Rs 3410
Year 1: 4000*1.05 = 4200. Debt = 4200-500 = 3700. Year 2: 3700*1.05 = 3885-500 = 3385. (Wait, let's re-calculate): 4000*1.05=4200, 4200-500=3700. 3700*1.05=3885. 3885-500=3385. Nearest option check: 3410 is possible if interest calculated differently, but 3385 is correct.
Share this question
More from Arithmetic
- If 3A = 4B = 5C, find A:C.
- Gold is 19 times as heavy as water and copper is 9 times as heavy as water. In what ratio should these be mixed to get an alloy 15 times as heavy as water?
- If a number is increased by 20% and then reduced by 20%, the resulting number is how much less than the original?
- In an examination, 80% candidates passed in English and 85% passed in Mathematics. If 73% passed in both, find the percentage of candidates who failed in both.
- In a map, 2cm represents 50km. What is the actual distance if the map distance is 7cm?