Question

The total amount of money that geeta must pay at the end of $18$ months in order to clear the account.

• A. $Rs.19,637.14$
• B. $Rs.19,113.42$
• C. $Rs.17,492.63$
• D. $Rs.16,872.96$

Answer 1

The correct option is D $Rs.16,872.96$

$P=Rs.15000$

Amount after $6$ month$=Rs.15600$

Interest paid in $6$ month$=15000-15600=Rs.600$

Let the rate of interest be $R$

$Interst=\frac{PRT}{100}$

$\Rightarrow 600=\frac{15000\times R\times 6}{100\times 12}$

$\Rightarrow R=\frac{600\times 12\times 100}{15000\times 6}=8$%

Amount after next $6$ month

$P=Rs.15600$

Time $=6$ month $=\frac{6}{12}years$

$I=\frac{15600\times 8\times 6}{12\times 100}=Rs.624$

Amount$=15600+624=Rs.16224$

Amount after next $6$ month

$P=Rs16224$

Time $6$ month

Interest$=\frac{16224\times 8\times 6}{12\times 100}=Rs.648.96$

$Amount=16224+648.96=Rs.16872.96$