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Ravi borrowed 1380 rs from a bank which he repaid in 6 years at the rate of 6% per annum simple intrest. If payment was done in six equal installment, then each installment was.
is it wrong question?
is it wrong question?
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Ravi borrowed 1380 rs from a bank which he repaid in 6 years at the ra...
Understanding the Problem
The question involves calculating the equal installments for a loan repaid with simple interest. The key figures are:
- Principal Amount: 1380 Rs
- Rate of Interest: 6% per annum
- Time Period: 6 years
Calculating Simple Interest
To find the total amount to be repaid, we first need to calculate the simple interest.
- Formula for Simple Interest (SI):
- SI = (Principal × Rate × Time) / 100
- Calculation:
- SI = (1380 × 6 × 6) / 100
- SI = 496.8 Rs
Total Amount to be Repaid
Now, we can calculate the total amount that Ravi needs to repay.
- Total Amount:
- Total Amount = Principal + Simple Interest
- Total Amount = 1380 + 496.8 = 1876.8 Rs
Calculating Each Installment
Since the total repayment is done in six equal installments, we can find the amount of each installment.
- Each Installment:
- Each Installment = Total Amount / Number of Installments
- Each Installment = 1876.8 / 6
- Each Installment = 312.8 Rs
Final Summary
- Ravi borrowed 1380 Rs.
- He repaid it over 6 years at 6% simple interest.
- The total amount to be repaid is 1876.8 Rs.
- Each installment amounts to approximately 312.8 Rs.
This question effectively demonstrates how to apply the principles of simple interest and installment payments.
The question involves calculating the equal installments for a loan repaid with simple interest. The key figures are:
- Principal Amount: 1380 Rs
- Rate of Interest: 6% per annum
- Time Period: 6 years
Calculating Simple Interest
To find the total amount to be repaid, we first need to calculate the simple interest.
- Formula for Simple Interest (SI):
- SI = (Principal × Rate × Time) / 100
- Calculation:
- SI = (1380 × 6 × 6) / 100
- SI = 496.8 Rs
Total Amount to be Repaid
Now, we can calculate the total amount that Ravi needs to repay.
- Total Amount:
- Total Amount = Principal + Simple Interest
- Total Amount = 1380 + 496.8 = 1876.8 Rs
Calculating Each Installment
Since the total repayment is done in six equal installments, we can find the amount of each installment.
- Each Installment:
- Each Installment = Total Amount / Number of Installments
- Each Installment = 1876.8 / 6
- Each Installment = 312.8 Rs
Final Summary
- Ravi borrowed 1380 Rs.
- He repaid it over 6 years at 6% simple interest.
- The total amount to be repaid is 1876.8 Rs.
- Each installment amounts to approximately 312.8 Rs.
This question effectively demonstrates how to apply the principles of simple interest and installment payments.
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Ravi borrowed 1380 rs from a bank which he repaid in 6 years at the rate of 6% per annum simple intrest. If payment was done in six equal installment, then each installment was.is it wrong question?
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Ravi borrowed 1380 rs from a bank which he repaid in 6 years at the rate of 6% per annum simple intrest. If payment was done in six equal installment, then each installment was.is it wrong question? 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 Ravi borrowed 1380 rs from a bank which he repaid in 6 years at the rate of 6% per annum simple intrest. If payment was done in six equal installment, then each installment was.is it wrong question? covers all topics & solutions for SSC CGL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ravi borrowed 1380 rs from a bank which he repaid in 6 years at the rate of 6% per annum simple intrest. If payment was done in six equal installment, then each installment was.is it wrong question?.
Ravi borrowed 1380 rs from a bank which he repaid in 6 years at the rate of 6% per annum simple intrest. If payment was done in six equal installment, then each installment was.is it wrong question? 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 Ravi borrowed 1380 rs from a bank which he repaid in 6 years at the rate of 6% per annum simple intrest. If payment was done in six equal installment, then each installment was.is it wrong question? covers all topics & solutions for SSC CGL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ravi borrowed 1380 rs from a bank which he repaid in 6 years at the rate of 6% per annum simple intrest. If payment was done in six equal installment, then each installment was.is it wrong question?.
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