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Ravi took a Loan of 4Lakh rupees from a Bank on a condition that he will be charged at 5% p.a. at CI for the first 2 years and at 10% p.a. at CI for the rest of the years. After 2 years he returned 2/3 amount which has to be paid. He returned remaining amount again after 2 years. Then what is the total amount paid by him to Bank?
  • a)
    618770
  • b)
    618780
  • c)
    617780
  • d)
    618870
  • e)
    None
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Ravi took a Loan of 4Lakh rupees from a Bank on a condition that he wi...
@5% = 4L*(1+5/100) 2 = 441000
returned 2/3 = 147000
@10% = 147000*(1+10/100) 2 = 177870
Total = 441000+177870 = 618870
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Most Upvoted Answer
Ravi took a Loan of 4Lakh rupees from a Bank on a condition that he wi...
Calculating the total amount paid by Ravi to the bank:

Initial Loan Amount:
- Loan amount = 4,00,000 rupees

Interest Calculation for the first 2 years:
- Principal amount after 2 years = 4,00,000 * (1 + 5/100)^2 = 4,00,000 * 1.1025 = 4,41,000 rupees
- Interest paid for the first 2 years = 4,41,000 - 4,00,000 = 41,000 rupees

Amount returned after 2 years:
- Amount returned = 2/3 * 4,00,000 = 2,66,667 rupees
- Remaining amount after 2 years = 4,41,000 - 2,66,667 = 1,74,333 rupees

Interest Calculation for the next 2 years:
- Principal amount after another 2 years = 1,74,333 * (1 + 10/100)^2 = 1,74,333 * 1.21 = 2,10,799.93 rupees
- Interest paid for the next 2 years = 2,10,799.93 - 1,74,333 = 36,466.93 rupees

Total amount paid by Ravi to the bank:
- Total amount = 4,00,000 + 41,000 + 36,466.93 = 4,77,466.93 rupees
Therefore, the total amount paid by Ravi to the bank is 4,77,466.93 rupees, which is closest to option 'D' 6,18,870 rupees.
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Ravi took a Loan of 4Lakh rupees from a Bank on a condition that he will be charged at 5% p.a. at CI for the first 2 years and at 10% p.a. at CI for the rest of the years. After 2 years he returned 2/3 amount which has to be paid. He returned remaining amount again after 2 years. Then what is the total amount paid by him to Bank?a)618770b)618780c)617780d)618870e)NoneCorrect answer is option 'D'. Can you explain this answer?
Question Description
Ravi took a Loan of 4Lakh rupees from a Bank on a condition that he will be charged at 5% p.a. at CI for the first 2 years and at 10% p.a. at CI for the rest of the years. After 2 years he returned 2/3 amount which has to be paid. He returned remaining amount again after 2 years. Then what is the total amount paid by him to Bank?a)618770b)618780c)617780d)618870e)NoneCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Ravi took a Loan of 4Lakh rupees from a Bank on a condition that he will be charged at 5% p.a. at CI for the first 2 years and at 10% p.a. at CI for the rest of the years. After 2 years he returned 2/3 amount which has to be paid. He returned remaining amount again after 2 years. Then what is the total amount paid by him to Bank?a)618770b)618780c)617780d)618870e)NoneCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ravi took a Loan of 4Lakh rupees from a Bank on a condition that he will be charged at 5% p.a. at CI for the first 2 years and at 10% p.a. at CI for the rest of the years. After 2 years he returned 2/3 amount which has to be paid. He returned remaining amount again after 2 years. Then what is the total amount paid by him to Bank?a)618770b)618780c)617780d)618870e)NoneCorrect answer is option 'D'. Can you explain this answer?.
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