Installment (SSC)

Total Questions: 40

11. ₹1,380 has to be paid after 4 years. If four equal installments are required with a simple interest of 10% on each installment, then what is the value of each installment ? [Matriculation Level 20/06/2024 (Shift-4)]

Correct Answer: (c) ₹300
Solution:

12. A loan of ₹2,550 is to be paid back in two equal half-yearly installments. How much is each installment if the interest is compounded half-yearly at 8% p.a.? [Matriculation Level 24/06/2024 (Shift-1)]

Correct Answer: (b) ₹1,352

13. A man has to discharge a debt of ₹15,600 which is due in 3 years at 4% simple interest per annum. If he pays this amount in equal installments of annual payment, find the amount for annual payment. [Matriculation Level 24/06/2024 (Shift-4)]

Correct Answer: (d) ₹5,000
Solution:

14. The annual installment (in ₹) to discharge a debt of ₹8,432 due in 4 years at 16% simple interest per annum is : [Matriculation Level 24/06/2024 (Shift-4)]

Correct Answer: (a) 1,700

15. An annual installment of ₹3,500 will discharge a debt of ₹16,310 due in 4 years at y% simple interest per annum. What is the value of y? [Note: Installments will be paid at the end of Year 1, Year 2, Year 3 and Year 4. [Matriculation Level 25/06/2024 (Shift-1)]

Correct Answer: (d) 11
Solution:The amount of debt that will be discharged by 5 equal monthly installments of ₹1,845 each, at the rate of 48% simple interest per annum, is:

16. The amount of debt that will be discharged by 5 equal monthly installments of ₹1,845 each, at the rate of 48% simple interest per annum, is: [Matriculation Level 25/06/2024 (Shift-1)]

Correct Answer: (d) ₹9,963

17. What equal installment of annual payment (in ₹) will discharge a debt that is due as ₹624 at the end of 5 years at 2% per annum simple interest ? [Matriculation Level 26/06/2024 (Shift-1)]

Correct Answer: (b) 120

18. What annual installment will discharge a debt of ₹5,460 due in 5 years at 10% simple interest per annum ? [Matriculation Level 26/06/2024 (Shift-1)]

Correct Answer: (c) ₹910

19. Anandi bought a smart watch from an electronic store for Rs.4,400. Since she had less money, she paid Rs.2,000 for down payment and the shopkeeper offered her an alternative to pay Rs.2,440 after 1 month. Find the rate of interest being charged at simple interest by the shopkeeper in this installment option? [SSC CPO 04/10/2023 (1st Shift)]

Correct Answer: (b) 20%

20. What annual installment (in ₹) will discharge a debt of ₹9,429 due in three years at 12.25% simple interest per annum? [Note: Installments will be paid at the end of Year 1, Year 2 and Year 3.] [SSC CPO 05/10/2023 (1st Shift)]

Correct Answer: (a) 2800