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Commerce Exam  >  Commerce Tests  >  Test: Sequence and Series- Case Based Type Questions - Commerce MCQ

Test: Sequence and Series- Case Based Type Questions - Commerce MCQ


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10 Questions MCQ Test - Test: Sequence and Series- Case Based Type Questions

Test: Sequence and Series- Case Based Type Questions for Commerce 2024 is part of Commerce preparation. The Test: Sequence and Series- Case Based Type Questions questions and answers have been prepared according to the Commerce exam syllabus.The Test: Sequence and Series- Case Based Type Questions MCQs are made for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Sequence and Series- Case Based Type Questions below.
Solutions of Test: Sequence and Series- Case Based Type Questions questions in English are available as part of our course for Commerce & Test: Sequence and Series- Case Based Type Questions solutions in Hindi for Commerce course. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free. Attempt Test: Sequence and Series- Case Based Type Questions | 10 questions in 20 minutes | Mock test for Commerce preparation | Free important questions MCQ to study for Commerce Exam | Download free PDF with solutions
Test: Sequence and Series- Case Based Type Questions - Question 1
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Shamshad Ali buys a scooter for ₹ 22,000. He pays ₹ 4,000 cash and agrees to pay the balance in annual instalments of ₹1000 plus 10% interest on the unpaid amount.

Q. Interest paid by Ali on 1st instalment?

Detailed Solution for Test: Sequence and Series- Case Based Type Questions - Question 1
Scooter cost = ₹22,000

Down payment = ₹4000.

Balance payment = ₹18000

Now, interest on 1st instalment

Test: Sequence and Series- Case Based Type Questions - Question 2
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Shamshad Ali buys a scooter for ₹ 22,000. He pays ₹ 4,000 cash and agrees to pay the balance in annual instalments of ₹1000 plus 10% interest on the unpaid amount.

Q. Interest paid by Ali on the 3rd instalment?

Detailed Solution for Test: Sequence and Series- Case Based Type Questions - Question 2
Unpaid amount = ₹17000 – ₹1000 = 16000

Interest on 2nd instalment

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Test: Sequence and Series- Case Based Type Questions - Question 3
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Shamshad Ali buys a scooter for ₹ 22,000. He pays ₹ 4,000 cash and agrees to pay the balance in annual instalments of ₹1000 plus 10% interest on the unpaid amount.

Q. Interest paid by Ali on the 2nd instalment?

Detailed Solution for Test: Sequence and Series- Case Based Type Questions - Question 3
Unpaid amount = 18000 – 1000 = 17000

Interest on 2nd instalment

Test: Sequence and Series- Case Based Type Questions - Question 4
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Shamshad Ali buys a scooter for ₹ 22,000. He pays ₹ 4,000 cash and agrees to pay the balance in annual instalments of ₹1000 plus 10% interest on the unpaid amount.

Q. Total interest paid by Ali is:
Detailed Solution for Test: Sequence and Series- Case Based Type Questions - Question 4
Total interest paid by him

= 1800 + 1700 + 1600 + .... + 18 terms

which is an A.P. with a = 1800, d = 1700 – 1800

= – 100

Therefore, total interest

= 9(3600 – 1700) = 9 × 1900 = 17100

Test: Sequence and Series- Case Based Type Questions - Question 5
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Shamshad Ali buys a scooter for ₹ 22,000. He pays ₹ 4,000 cash and agrees to pay the balance in annual instalments of ₹1000 plus 10% interest on the unpaid amount.

Q. How much will scooter cost him?
Detailed Solution for Test: Sequence and Series- Case Based Type Questions - Question 5
Total amount or actual cost

= 22000 + 17100

= ₹39100

Test: Sequence and Series- Case Based Type Questions - Question 6
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A man deposited ₹10000 in a bank at the rate of 5% simple interest annually.

Q. What is the amount paid by him after 1st year?
Detailed Solution for Test: Sequence and Series- Case Based Type Questions - Question 6
Interest on ₹10000 after 1 yr.

Therefore, amount after 1 yr

= 10000 + 500

= 10500

Test: Sequence and Series- Case Based Type Questions - Question 7
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A man deposited ₹10000 in a bank at the rate of 5% simple interest annually.

Q. What is the amount paid by him after 3rd year?
Detailed Solution for Test: Sequence and Series- Case Based Type Questions - Question 7
Interest on ₹10000 after 3 yr

∴ Amount after 3 yr = 10000 + 1500

= ₹11500

Test: Sequence and Series- Case Based Type Questions - Question 8
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A man deposited ₹10000 in a bank at the rate of 5% simple interest annually.

Q. What is the interest paid by him after 2nd year?
Detailed Solution for Test: Sequence and Series- Case Based Type Questions - Question 8
Now, interest on ₹10000 after 2 yr

Test: Sequence and Series- Case Based Type Questions - Question 9
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A man deposited ₹10000 in a bank at the rate of 5% simple interest annually.

Q. What is the amount paid by him after 15th year?
Detailed Solution for Test: Sequence and Series- Case Based Type Questions - Question 9
The amount in the account of a man in the first, second and third year are ₹ 10000, ₹10500, ₹11000, ……

It is an A.P., where a = 10000 and d = 500

Amount in 15th yr = T15

a + 14d

= 10000 + 14 × 500

= 10000 + 7000 = ₹17000

Test: Sequence and Series- Case Based Type Questions - Question 10
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A man deposited ₹10000 in a bank at the rate of 5% simple interest annually.

Q. What is the amount paid by him after the 20th year?
Detailed Solution for Test: Sequence and Series- Case Based Type Questions - Question 10
Amount after 20 yr = 10000 +20 × 500

= 10000 + 10000 = ₹20000

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