Installment (SSC)

Total Questions: 40

1. What annual instalment will discharge a debt of ₹26,160 due in 4 years at 6% simple interest p.a.? [SSC CGL 10/09/2024 (2nd Shift)]

Correct Answer: (c) ₹6,000

2. A cell phone is available for Rs.600 or for Rs.300 cash down payment together with Rs.360 to be paid after two months. Find the rate of interest charged under this scheme. [SSC CGL 24/09/2024 (2nd Shift)]

Correct Answer: (b) 120%

3. Find the total amount of debt that will be discharged by 5 equal installments of ₹200 each, if the debt is due in 5 years at 5% p.a. at simple interest. [SSC CHSL 02/07/2024 (3rd Shift)]

Correct Answer: (a) ₹1,100

4. A clock is sold for ₹550 cash or in the instalment scheme, for ₹250 cash down payment and ₹310 after one month. Find the rate of interest charged in the installment scheme. [SSC CHSL 04/07/2024 (1st Shift)]

Correct Answer: (c) 40%

5. Rahna decided to buy a scooty that costs ₹40,000. The shopkeeper agreed to sell the scooty under the condition of ₹25,000 cash down payment of ₹4,000 each month for four months. Find the rate of interest at which the shopkeeper sold the scooty under the installment scheme. [SSC CHSL 04/07/2024 (3rd Shift)]

Correct Answer: (a) 33%

6. A laptop charger is sold for Rs.2,540 in cash or for a down payment of Rs.1,340 in cash together with Rs.1,205 to be paid after one month. Find the rate of interest charged in the installment scheme. [SSC CHSL 11/07/2024 (1st Shift)]

Correct Answer: (a) 5% p.a.

7. What annual installment will discharge a debt of ₹10,192 due in 3 years at 10% simple interest? [SSC CPO 27/06/2024 (2nd Shift)]

Correct Answer: (c) ₹3,088.48
Solution:

8. Sita takes a loan of Rs.35,000 at an interest rate of 10% compound interest, compounded annually. She agrees to pay two equal instalments in 2 years, one instalment at the end of each year. Find the value of each instalment. (Round off to the nearest integer) [SSC CPO 29/06/2024 (1st Shift)]

Correct Answer: (a) ₹20,167

9. Find the amount of equal annual installment, which will discharge a debt of Rs.40,376 due in 4 years at the rate of 2% p.a. simple interest. [Matriculation Level 20/06/2024 (Shift-1)]

Correct Answer: (a) Rs.9,800

10. What annual installment will discharge a debt of Rs.3,658 due in 4 years at 12% simple interest per annum ? [Higher Secondary 20/06/2024 (Shift-2)]

Correct Answer: (d) Rs.775