A certain sum of money was lent under the following repayment scheme based on Simple Interest:
8% per annum for the initial 2 years
9.5% per annum for the next 4 years
11% per annum for the next 2 years
12% per annum after the first 8 years
Find the amount which a sum of Rs. 9000 taken for 12 years becomes at the end of 12 years.
Correct Answer : D
A person bought a motorbike under the following scheme; Down payment of Rs. 15000 and the rest amount at 8% per annum for 2 years. In this way, he paid Rs. 28290 in total. Find the actual price of the motorbike.
A gentleman buys every year Bank's cash certificates of value exceeding the last year's purchase by Rs. 300. After 20 years, he finds that the total value of the certificates purchased by him is Rs. 83,000. Find the value of the certificates purchased by him in the 13th year.
Ankita takes a loan of Rs. 11,30,500 for 2 years, part of which he manages to get at 5% CI and rest of it only at 6% CI. If the total interest payable on the two parts is the same over the two years, what amount was he able to get as loan at 5%?