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Mr. Magnet got a loan of Rs. 21,000 at 10% simple interest. He repaid that loan in 24 equal monthly installments, each being paid at the end of every month starting from the next year; that means for the first year, he did not pay anything and for the next 2 years he paid the installments and cleared the loan exactly by the end of the third year. What was approximate each installment he paid?a)Rs. 800b)Rs. 1,038c)Rs. 1,240d)Rs. 1,128e)Rs. 1,057Correct answer is option 'B'. 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 Mr. Magnet got a loan of Rs. 21,000 at 10% simple interest. He repaid that loan in 24 equal monthly installments, each being paid at the end of every month starting from the next year; that means for the first year, he did not pay anything and for the next 2 years he paid the installments and cleared the loan exactly by the end of the third year. What was approximate each installment he paid?a)Rs. 800b)Rs. 1,038c)Rs. 1,240d)Rs. 1,128e)Rs. 1,057Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. Magnet got a loan of Rs. 21,000 at 10% simple interest. He repaid that loan in 24 equal monthly installments, each being paid at the end of every month starting from the next year; that means for the first year, he did not pay anything and for the next 2 years he paid the installments and cleared the loan exactly by the end of the third year. What was approximate each installment he paid?a)Rs. 800b)Rs. 1,038c)Rs. 1,240d)Rs. 1,128e)Rs. 1,057Correct answer is option 'B'. Can you explain this answer?.

Solutions for Mr. Magnet got a loan of Rs. 21,000 at 10% simple interest. He repaid that loan in 24 equal monthly installments, each being paid at the end of every month starting from the next year; that means for the first year, he did not pay anything and for the next 2 years he paid the installments and cleared the loan exactly by the end of the third year. What was approximate each installment he paid?a)Rs. 800b)Rs. 1,038c)Rs. 1,240d)Rs. 1,128e)Rs. 1,057Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT. Download more important topics, notes, lectures and mock test series for CAT Exam by signing up for free.

Here you can find the meaning of Mr. Magnet got a loan of Rs. 21,000 at 10% simple interest. He repaid that loan in 24 equal monthly installments, each being paid at the end of every month starting from the next year; that means for the first year, he did not pay anything and for the next 2 years he paid the installments and cleared the loan exactly by the end of the third year. What was approximate each installment he paid?a)Rs. 800b)Rs. 1,038c)Rs. 1,240d)Rs. 1,128e)Rs. 1,057Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Mr. Magnet got a loan of Rs. 21,000 at 10% simple interest. He repaid that loan in 24 equal monthly installments, each being paid at the end of every month starting from the next year; that means for the first year, he did not pay anything and for the next 2 years he paid the installments and cleared the loan exactly by the end of the third year. What was approximate each installment he paid?a)Rs. 800b)Rs. 1,038c)Rs. 1,240d)Rs. 1,128e)Rs. 1,057Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Mr. Magnet got a loan of Rs. 21,000 at 10% simple interest. He repaid that loan in 24 equal monthly installments, each being paid at the end of every month starting from the next year; that means for the first year, he did not pay anything and for the next 2 years he paid the installments and cleared the loan exactly by the end of the third year. What was approximate each installment he paid?a)Rs. 800b)Rs. 1,038c)Rs. 1,240d)Rs. 1,128e)Rs. 1,057Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Mr. Magnet got a loan of Rs. 21,000 at 10% simple interest. He repaid that loan in 24 equal monthly installments, each being paid at the end of every month starting from the next year; that means for the first year, he did not pay anything and for the next 2 years he paid the installments and cleared the loan exactly by the end of the third year. What was approximate each installment he paid?a)Rs. 800b)Rs. 1,038c)Rs. 1,240d)Rs. 1,128e)Rs. 1,057Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Mr. Magnet got a loan of Rs. 21,000 at 10% simple interest. He repaid that loan in 24 equal monthly installments, each being paid at the end of every month starting from the next year; that means for the first year, he did not pay anything and for the next 2 years he paid the installments and cleared the loan exactly by the end of the third year. What was approximate each installment he paid?a)Rs. 800b)Rs. 1,038c)Rs. 1,240d)Rs. 1,128e)Rs. 1,057Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CAT tests.