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P is going to pay Rs.700 to Q, 7 months later at 6% annual simple interest, Q isgoing to pay Rs.550 to P, 12 months later at 8% annual simple interest, if theydecide to settle the debts, who will pay what amount to whom ?
- a)A, Rs.149
- b)B,Rs.167
- c)A, Rs.155
- d)B, Rs.197
- e)None of these
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
P is going to pay Rs.700 to Q, 7 months later at 6% annual simple inte...
Answer – B.B,Rs.167
Explanation :
For P:
P+ (p*6*7/12*100) = 700
1200p+42P = 700*1200
P = 676.33
For Q:
P+ (p*8*12/12*100) = 550
1200P+96P = 550*1200
P =509.26
Q =676-509 = 167
Explanation :
For P:
P+ (p*6*7/12*100) = 700
1200p+42P = 700*1200
P = 676.33
For Q:
P+ (p*8*12/12*100) = 550
1200P+96P = 550*1200
P =509.26
Q =676-509 = 167
Most Upvoted Answer
P is going to pay Rs.700 to Q, 7 months later at 6% annual simple inte...
Given:
P is going to pay Rs.700 to Q, 7 months later at 6% annual simple interest
Q is going to pay Rs.550 to P, 12 months later at 8% annual simple interest
To find:
Who will pay what amount to whom if they decide to settle the debts.
Solution:
Let's calculate the interest payable by P and Q on their respective amounts.
Interest payable by P = P × R × T
where,
P = Principal amount = Rs.700
R = Rate of interest per annum = 6%
T = Time period = 7/12 years (7 months is 7/12th of a year)
Substituting the given values, we get
Interest payable by P = 700 × 6/100 × 7/12
= Rs.24.50
So, P will pay a total of Rs.724.5 to Q (Rs.700 principal + Rs.24.50 interest).
Similarly, let's calculate the interest payable by Q on his amount.
Interest payable by Q = Q × R × T
where,
Q = Principal amount = Rs.550
R = Rate of interest per annum = 8%
T = Time period = 12/12 years (12 months is 1 year)
Substituting the given values, we get
Interest payable by Q = 550 × 8/100 × 1
= Rs.44
So, Q will pay a total of Rs.594 to P (Rs.550 principal + Rs.44 interest).
Now, let's find the net amount payable by each person.
Net amount payable by P = Amount payable by Q - Amount payable by P
= Rs.594 - Rs.724.5
= -Rs.130.5 (negative sign indicates that P will receive this amount)
Net amount payable by Q = Amount payable by P - Amount payable by Q
= Rs.724.5 - Rs.594
= Rs.130.5
Therefore, Q will pay Rs.130.5 to P.
Hence, the answer is option B) B, Rs.167.
P is going to pay Rs.700 to Q, 7 months later at 6% annual simple interest
Q is going to pay Rs.550 to P, 12 months later at 8% annual simple interest
To find:
Who will pay what amount to whom if they decide to settle the debts.
Solution:
Let's calculate the interest payable by P and Q on their respective amounts.
Interest payable by P = P × R × T
where,
P = Principal amount = Rs.700
R = Rate of interest per annum = 6%
T = Time period = 7/12 years (7 months is 7/12th of a year)
Substituting the given values, we get
Interest payable by P = 700 × 6/100 × 7/12
= Rs.24.50
So, P will pay a total of Rs.724.5 to Q (Rs.700 principal + Rs.24.50 interest).
Similarly, let's calculate the interest payable by Q on his amount.
Interest payable by Q = Q × R × T
where,
Q = Principal amount = Rs.550
R = Rate of interest per annum = 8%
T = Time period = 12/12 years (12 months is 1 year)
Substituting the given values, we get
Interest payable by Q = 550 × 8/100 × 1
= Rs.44
So, Q will pay a total of Rs.594 to P (Rs.550 principal + Rs.44 interest).
Now, let's find the net amount payable by each person.
Net amount payable by P = Amount payable by Q - Amount payable by P
= Rs.594 - Rs.724.5
= -Rs.130.5 (negative sign indicates that P will receive this amount)
Net amount payable by Q = Amount payable by P - Amount payable by Q
= Rs.724.5 - Rs.594
= Rs.130.5
Therefore, Q will pay Rs.130.5 to P.
Hence, the answer is option B) B, Rs.167.
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Community Answer
P is going to pay Rs.700 to Q, 7 months later at 6% annual simple inte...
For P:
P+ (p*6*7/12*100) = 700
1200p+42P = 700*1200
P = 676.33
For Q:
P+ (p*8*12/12*100) = 550
1200P+96P = 550*1200
P =509.26
Q =676-509 = 167
HENCE OPTION B IS THE ANSWER
P+ (p*6*7/12*100) = 700
1200p+42P = 700*1200
P = 676.33
For Q:
P+ (p*8*12/12*100) = 550
1200P+96P = 550*1200
P =509.26
Q =676-509 = 167
HENCE OPTION B IS THE ANSWER
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P is going to pay Rs.700 to Q, 7 months later at 6% annual simple interest, Q isgoing to pay Rs.550 to P, 12 months later at 8% annual simple interest, if theydecide to settle the debts, who will pay what amount to whom ?a)A, Rs.149b)B,Rs.167c)A, Rs.155d)B, Rs.197e)None of theseCorrect answer is option 'B'. Can you explain this answer?
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P is going to pay Rs.700 to Q, 7 months later at 6% annual simple interest, Q isgoing to pay Rs.550 to P, 12 months later at 8% annual simple interest, if theydecide to settle the debts, who will pay what amount to whom ?a)A, Rs.149b)B,Rs.167c)A, Rs.155d)B, Rs.197e)None of theseCorrect answer is option 'B'. 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 P is going to pay Rs.700 to Q, 7 months later at 6% annual simple interest, Q isgoing to pay Rs.550 to P, 12 months later at 8% annual simple interest, if theydecide to settle the debts, who will pay what amount to whom ?a)A, Rs.149b)B,Rs.167c)A, Rs.155d)B, Rs.197e)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for P is going to pay Rs.700 to Q, 7 months later at 6% annual simple interest, Q isgoing to pay Rs.550 to P, 12 months later at 8% annual simple interest, if theydecide to settle the debts, who will pay what amount to whom ?a)A, Rs.149b)B,Rs.167c)A, Rs.155d)B, Rs.197e)None of theseCorrect answer is option 'B'. Can you explain this answer?.
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