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Amit went to buy an article, whose maximum retail cost is Rs. 10000, but due to festival season the shopkeeper had offered various discounts, there was also an option for a buyer to pay the price by interest-free equal monthly installments (EMI), where the buyer can pay, down-payment of even Re.1. The person did not know anything about offers/price beforehand, so he took all his money distributed in 'n' bags, such that each bag has unique amount (partial withdrawal from any bag is not possible), but when he came to know about the EMI option, he preferred to opt for that option.
On the basis of this information, answer the questions below.
 
Q. In which of the following cases, Amit will have to give minimum number of bags for down payment?
  • a)
    He decides to pay EMI of Rs. 200 for 26 months.
  • b)
    He decides to pay EMI of Rs. 500 for 13 months.
  • c)
    He decides to pay EMI of Rs. 700 for 9 months.
  • d)
    He decided to pay EMI of Rs. 200 for 20 months.
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Amit went to buy an article, whose maximum retail cost is Rs. 10000, b...
Option 1:
The down payment to be made = 10000 - 200 x 26 = Rs. 4800
4800 = 4096 + 512 + 128 + 64 
He will have to give 4 bags.
Option 2:
The down payment to be made = 10000 - 500 x 13 = Rs. 3500
3500 = 2048 + 1024 + 256 + 128 + 32 + 8 + 4 
He will have to give 7 bags.
Option 3:
The down payment to be made = 10000 - 700 * 9 = Rs. 3700
3700 = 2048 + 1024 + 512 + 64 + 32 + 16 + 4 
He will have to give 7 bags.
Option 4:
The down payment to be made = 10000 - 200 x 20 = Rs. 6000
6000 = 4096 + 1024 + 512 + 256 + 64 + 32 + 16 
He will have to give 7 bags.
Thus, if Amit decides to pay EMI of Rs. 200 for 26 months, for down payment of Rs. 4800, he will have to give 4 bags.
This is the case in which he has to give minimum number of bags.
Hence, option 1.
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Amit went to buy an article, whose maximum retail cost is Rs. 10000, but due to festival season the shopkeeper had offered various discounts, there was also an option for a buyer to pay the price by interest-free equal monthly installments (EMI), where the buyer can pay, down-payment of even Re.1. The person did not know anything about offers/price beforehand, so he took all hismoney distributed in nbags, such that each bag has unique amount (partial withdrawal from any bag is not possible), but when he came to know about the EMI option, he preferred to opt for that option.On the basis of this information, answer the questions below.Q. In which of the following cases, Amit will have to give minimum number of bags for down payment?a)He decides to pay EMI of Rs. 200 for 26 months.b)He decides to pay EMI of Rs. 500 for 13 months.c)He decides to pay EMI of Rs. 700 for 9 months.d)He decided to pay EMI of Rs. 200 for 20 months.Correct answer is option 'A'. Can you explain this answer?
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Amit went to buy an article, whose maximum retail cost is Rs. 10000, but due to festival season the shopkeeper had offered various discounts, there was also an option for a buyer to pay the price by interest-free equal monthly installments (EMI), where the buyer can pay, down-payment of even Re.1. The person did not know anything about offers/price beforehand, so he took all hismoney distributed in nbags, such that each bag has unique amount (partial withdrawal from any bag is not possible), but when he came to know about the EMI option, he preferred to opt for that option.On the basis of this information, answer the questions below.Q. In which of the following cases, Amit will have to give minimum number of bags for down payment?a)He decides to pay EMI of Rs. 200 for 26 months.b)He decides to pay EMI of Rs. 500 for 13 months.c)He decides to pay EMI of Rs. 700 for 9 months.d)He decided to pay EMI of Rs. 200 for 20 months.Correct answer is option 'A'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Amit went to buy an article, whose maximum retail cost is Rs. 10000, but due to festival season the shopkeeper had offered various discounts, there was also an option for a buyer to pay the price by interest-free equal monthly installments (EMI), where the buyer can pay, down-payment of even Re.1. The person did not know anything about offers/price beforehand, so he took all hismoney distributed in nbags, such that each bag has unique amount (partial withdrawal from any bag is not possible), but when he came to know about the EMI option, he preferred to opt for that option.On the basis of this information, answer the questions below.Q. In which of the following cases, Amit will have to give minimum number of bags for down payment?a)He decides to pay EMI of Rs. 200 for 26 months.b)He decides to pay EMI of Rs. 500 for 13 months.c)He decides to pay EMI of Rs. 700 for 9 months.d)He decided to pay EMI of Rs. 200 for 20 months.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Amit went to buy an article, whose maximum retail cost is Rs. 10000, but due to festival season the shopkeeper had offered various discounts, there was also an option for a buyer to pay the price by interest-free equal monthly installments (EMI), where the buyer can pay, down-payment of even Re.1. The person did not know anything about offers/price beforehand, so he took all hismoney distributed in nbags, such that each bag has unique amount (partial withdrawal from any bag is not possible), but when he came to know about the EMI option, he preferred to opt for that option.On the basis of this information, answer the questions below.Q. In which of the following cases, Amit will have to give minimum number of bags for down payment?a)He decides to pay EMI of Rs. 200 for 26 months.b)He decides to pay EMI of Rs. 500 for 13 months.c)He decides to pay EMI of Rs. 700 for 9 months.d)He decided to pay EMI of Rs. 200 for 20 months.Correct answer is option 'A'. Can you explain this answer?.
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In which of the following cases, Amit will have to give minimum number of bags for down payment?a)He decides to pay EMI of Rs. 200 for 26 months.b)He decides to pay EMI of Rs. 500 for 13 months.c)He decides to pay EMI of Rs. 700 for 9 months.d)He decided to pay EMI of Rs. 200 for 20 months.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Amit went to buy an article, whose maximum retail cost is Rs. 10000, but due to festival season the shopkeeper had offered various discounts, there was also an option for a buyer to pay the price by interest-free equal monthly installments (EMI), where the buyer can pay, down-payment of even Re.1. The person did not know anything about offers/price beforehand, so he took all hismoney distributed in nbags, such that each bag has unique amount (partial withdrawal from any bag is not possible), but when he came to know about the EMI option, he preferred to opt for that option.On the basis of this information, answer the questions below.Q. In which of the following cases, Amit will have to give minimum number of bags for down payment?a)He decides to pay EMI of Rs. 200 for 26 months.b)He decides to pay EMI of Rs. 500 for 13 months.c)He decides to pay EMI of Rs. 700 for 9 months.d)He decided to pay EMI of Rs. 200 for 20 months.Correct answer is option 'A'. 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In which of the following cases, Amit will have to give minimum number of bags for down payment?a)He decides to pay EMI of Rs. 200 for 26 months.b)He decides to pay EMI of Rs. 500 for 13 months.c)He decides to pay EMI of Rs. 700 for 9 months.d)He decided to pay EMI of Rs. 200 for 20 months.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Amit went to buy an article, whose maximum retail cost is Rs. 10000, but due to festival season the shopkeeper had offered various discounts, there was also an option for a buyer to pay the price by interest-free equal monthly installments (EMI), where the buyer can pay, down-payment of even Re.1. The person did not know anything about offers/price beforehand, so he took all hismoney distributed in nbags, such that each bag has unique amount (partial withdrawal from any bag is not possible), but when he came to know about the EMI option, he preferred to opt for that option.On the basis of this information, answer the questions below.Q. In which of the following cases, Amit will have to give minimum number of bags for down payment?a)He decides to pay EMI of Rs. 200 for 26 months.b)He decides to pay EMI of Rs. 500 for 13 months.c)He decides to pay EMI of Rs. 700 for 9 months.d)He decided to pay EMI of Rs. 200 for 20 months.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CAT tests.
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