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A borrowed sum was paid in the two annual installments of Rs. 121 each. If the rate of compound interest is 10% p.a., what sum was borrowed ?
- a)Rs. 217.80
- b)Rs. 210
- c)Rs. 220
- d)Rs. 200
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
A borrowed sum was paid in the two annual installments of Rs. 121 each...
Given: Two annual installments of Rs. 121 each, Rate of compound interest = 10% p.a.
To find: The sum borrowed
Let the sum borrowed be 'P'
As per the given information, the sum borrowed is paid in two annual installments of Rs. 121 each.
Hence, the outstanding amount after the first installment will be: P + P*10/100 - 121
After the second installment, it will be: [P + P*10/100 - 121] + [P + P*10/100 - 121]*10/100 - 121
Simplifying the above expression, we get: P + P*10/100 + P*10/100 + P*1/100 + P/100 - 242
= P*(1 + 1/10 + 1/10 + 1/100 + 1/100) - 242
= P*(1 + 1/10 + 1/10 + 1/100 + 1/100) - 242
= P*(1 + 1/10)^2 - 242
= P*(11/10)^2 - 242
= P*121/100 - 242
= P*(121/100 - 2)
= P*(119/100)
Therefore, P*(119/100) = P + P*10/100 - 121
Simplifying the above equation, we get: P = Rs. 210
Hence, the borrowed sum is Rs. 210.
To find: The sum borrowed
Let the sum borrowed be 'P'
As per the given information, the sum borrowed is paid in two annual installments of Rs. 121 each.
Hence, the outstanding amount after the first installment will be: P + P*10/100 - 121
After the second installment, it will be: [P + P*10/100 - 121] + [P + P*10/100 - 121]*10/100 - 121
Simplifying the above expression, we get: P + P*10/100 + P*10/100 + P*1/100 + P/100 - 242
= P*(1 + 1/10 + 1/10 + 1/100 + 1/100) - 242
= P*(1 + 1/10 + 1/10 + 1/100 + 1/100) - 242
= P*(1 + 1/10)^2 - 242
= P*(11/10)^2 - 242
= P*121/100 - 242
= P*(121/100 - 2)
= P*(119/100)
Therefore, P*(119/100) = P + P*10/100 - 121
Simplifying the above equation, we get: P = Rs. 210
Hence, the borrowed sum is Rs. 210.
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Community Answer
A borrowed sum was paid in the two annual installments of Rs. 121 each...
x = 110 + 100
x = 210
x = 210
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A borrowed sum was paid in the two annual installments of Rs. 121 each. If the rate of compound interest is 10% p.a., what sum was borrowed ?a)Rs. 217.80b)Rs. 210c)Rs. 220d)Rs. 200Correct answer is option 'B'. Can you explain this answer?
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A borrowed sum was paid in the two annual installments of Rs. 121 each. If the rate of compound interest is 10% p.a., what sum was borrowed ?a)Rs. 217.80b)Rs. 210c)Rs. 220d)Rs. 200Correct answer is option 'B'. Can you explain this answer? for SSC CGL 2025 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about A borrowed sum was paid in the two annual installments of Rs. 121 each. If the rate of compound interest is 10% p.a., what sum was borrowed ?a)Rs. 217.80b)Rs. 210c)Rs. 220d)Rs. 200Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for SSC CGL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A borrowed sum was paid in the two annual installments of Rs. 121 each. If the rate of compound interest is 10% p.a., what sum was borrowed ?a)Rs. 217.80b)Rs. 210c)Rs. 220d)Rs. 200Correct answer is option 'B'. Can you explain this answer?.
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A borrowed sum was paid in the two annual installments of Rs. 121 each. If the rate of compound interest is 10% p.a., what sum was borrowed ?a)Rs. 217.80b)Rs. 210c)Rs. 220d)Rs. 200Correct answer is option 'B'. Can you explain this answer?, a detailed solution for A borrowed sum was paid in the two annual installments of Rs. 121 each. If the rate of compound interest is 10% p.a., what sum was borrowed ?a)Rs. 217.80b)Rs. 210c)Rs. 220d)Rs. 200Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of A borrowed sum was paid in the two annual installments of Rs. 121 each. If the rate of compound interest is 10% p.a., what sum was borrowed ?a)Rs. 217.80b)Rs. 210c)Rs. 220d)Rs. 200Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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