Quant Exam > Quant Questions > Venkat and Vidhya have to clear their respect...
Start Learning for Free
Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?
- a)200
- b)300
- c)400
- d)500
- e)None of these
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Venkat and Vidhya have to clear their respective loans by paying 2 equ...
D =[(30,000 *110/100*110/100) – 30,000] – 30,000 *10*2/100
=[36300-30000]- 6000
=6300 – 6000
D = 300
=[36300-30000]- 6000
=6300 – 6000
D = 300
Most Upvoted Answer
Venkat and Vidhya have to clear their respective loans by paying 2 equ...
Given:
- Venkat and Vidhya have to clear their respective loans by paying 2 equal annual installments of Rs.30000 each.
- Venkat pays at 10% per annum of simple interest (SI).
- Vidhya pays at 10% per annum of compound interest (CI).
To find:
The difference in their payments.
Solution:
Let's calculate the total amount paid by Venkat and Vidhya separately and then find the difference.
Calculation for Venkat:
- Venkat pays at 10% per annum of simple interest (SI).
- The total amount paid by Venkat will be the sum of the principal amount and the interest.
- Let's assume the principal amount is P.
- The interest paid by Venkat is given by: Interest = (P * 10 * 2) / 100
- Here, 10% is the rate of interest and 2 is the number of years.
- So, the total amount paid by Venkat = Principal amount + Interest = P + (P * 10 * 2) / 100 = P + (P * 20) / 100 = P + 0.2P = 1.2P
Calculation for Vidhya:
- Vidhya pays at 10% per annum of compound interest (CI).
- The total amount paid by Vidhya will be the sum of the principal amount and the compound interest.
- Let's assume the principal amount is Q.
- The compound interest paid by Vidhya is given by: Compound Interest = Q * (1 + 10/100)^2 - Q
- Here, 10% is the rate of interest and 2 is the number of years.
- So, the total amount paid by Vidhya = Principal amount + Compound Interest = Q + (Q * (1 + 10/100)^2 - Q) = Q + (Q * 1.1^2 - Q) = Q + (1.21Q - Q) = 2.21Q
Calculating the difference:
The difference in their payments = Total amount paid by Vidhya - Total amount paid by Venkat = 2.21Q - 1.2P
As the given information doesn't provide any relation between P and Q, we cannot determine the exact value of the difference. Therefore, the correct answer is option 'e' (None of these), as we cannot choose any option from the given options.
- Venkat and Vidhya have to clear their respective loans by paying 2 equal annual installments of Rs.30000 each.
- Venkat pays at 10% per annum of simple interest (SI).
- Vidhya pays at 10% per annum of compound interest (CI).
To find:
The difference in their payments.
Solution:
Let's calculate the total amount paid by Venkat and Vidhya separately and then find the difference.
Calculation for Venkat:
- Venkat pays at 10% per annum of simple interest (SI).
- The total amount paid by Venkat will be the sum of the principal amount and the interest.
- Let's assume the principal amount is P.
- The interest paid by Venkat is given by: Interest = (P * 10 * 2) / 100
- Here, 10% is the rate of interest and 2 is the number of years.
- So, the total amount paid by Venkat = Principal amount + Interest = P + (P * 10 * 2) / 100 = P + (P * 20) / 100 = P + 0.2P = 1.2P
Calculation for Vidhya:
- Vidhya pays at 10% per annum of compound interest (CI).
- The total amount paid by Vidhya will be the sum of the principal amount and the compound interest.
- Let's assume the principal amount is Q.
- The compound interest paid by Vidhya is given by: Compound Interest = Q * (1 + 10/100)^2 - Q
- Here, 10% is the rate of interest and 2 is the number of years.
- So, the total amount paid by Vidhya = Principal amount + Compound Interest = Q + (Q * (1 + 10/100)^2 - Q) = Q + (Q * 1.1^2 - Q) = Q + (1.21Q - Q) = 2.21Q
Calculating the difference:
The difference in their payments = Total amount paid by Vidhya - Total amount paid by Venkat = 2.21Q - 1.2P
As the given information doesn't provide any relation between P and Q, we cannot determine the exact value of the difference. Therefore, the correct answer is option 'e' (None of these), as we cannot choose any option from the given options.
Free Test
FREE
| Start Free Test |
Community Answer
Venkat and Vidhya have to clear their respective loans by paying 2 equ...
D =[(30,000 *110/100*110/100) – 30,000] – 30,000 *10*2/100
=[36300-30000]- 6000
=6300 – 6000
D = 300
=[36300-30000]- 6000
=6300 – 6000
D = 300
|
Explore Courses for Quant exam
|
|
Top Courses for QuantView all
Question Description
Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer?.
Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant.
Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free.
Here you can find the meaning of Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Venkat and Vidhya have to clear their respective loans by paying 2 equal annual instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?a)200b)300c)400d)500e)None of theseCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice Quant tests.
|
|
Explore Courses for Quant exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup on EduRev and stay on top of your study goals
10M+ students crushing their study goals daily