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<html><body><h2 id="content-id-2983451706-2"><b>Simple Interest Questions Overview</b></h2><p>Simple Interest Questions have a good weightage in the Ssc Cgl Exam and the type of question asked in Ssc Cgl exam is similar to the question mentioned below. It has been solved and explained by KD Live Experts under the guidance of Neetu Mam and they have tried to elaborate the concept used in Simple Interest Questions.</p><h2 id="content-id-8196543207-3"><b>Question On Simple Interest </b></h2>A borrows Rs. 39500 from a bank at 9% p.a. He pays it back as 11 equal annual installments. What is the value of each installment paid (in Rs)? (Take 1.0911 = 2.58)
<div class="row show--dificulty--bar" style="margin-top:8px;"><div class="col-sm-6 show--dificulty--bar" style="display:inline-flex !important;border-right:0.1px solid #eee;"><h3 style="font-size:12px !important;">Difficulty : Moderate </h3></div><div class="col-sm-6 show--dificulty--bar" style="display:inline-flex;"><h3 style="font-size:12px !important;"> Average Time : 34 Seconds </h3></div></div><h2 id="content-id-6439857120-4"><b> Simple Interest Questions Options</b></h2><ol><li><p>4565</p>
</li><li><p>5025</p>
</li><li><p>5465</p>
</li><li><p>5805</p>
</li></ol> <h2 id="content-id-4920783561-5"><b> Simple Interest Questions Solution</b></h2><p>The correct answer is <strong>Option 4</strong> i.e. <strong>5805</strong>.</p>

<p>Installment on loan P at rate of r% and n installments = (P × r (1 + r)<sup>n</sup>)/((1+ r)<sup>n</sup> – 1)</p>

<p>Installment to be paid = (39500 × 0.09 × 1.09<sup>11</sup>)/(1.09<sup>11</sup> – 1)</p>

<p>⇒ 39500 × 0.09 × 2.58/1.58</p>

<p>⇒ Rs. 5805</p>
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The correct answer is Option 4 i.e. 5805 - Simple Interest Questions are asked in Ssc Cgl exams and your question has been explained by experts like Neetu Mam.

 Simple Interest Questions Tips and Tricks

A borrows Rs 39500 from - Simple Interest Questions for Ssc Cgl

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