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A sum of ₹8000 is borrowed at 5% per annum compound interest and paid back in three equal annual instalments. What is the amount of each instalment?

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Important Questions on Interest

MEDIUM
CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 21
Three amounts x, y, z are such that y is the simple interest on x and z is the simple interest on y. If in all the three cases, rate of interest per annum and the time for which interest is calculated is the same, then find the relation between x, y and z.
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CAT
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How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 22
A person lent out some money for one year at 6% per annum simple interest and after 18 months, he again lent out the same money at a simple interest of 24% per annum. In both the cases, he got ₹4704. Which of these could be the amount that was lent out in each case, if interest is paid half-yearly?
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CAT
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How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 23
A person bought a motorbike under the following scheme: down payment of ₹15000 and the rest amount at 8% per annum simple interest for two years. In this way, he paid ₹28920 in total. Find the actual price of the motorbike.
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CAT
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How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 24
Hans Kumar borrows ₹7000 at simple interest from the village moneylender. At the end of three years, he again borrows ₹3000 and closes his account after paying ₹4615 as interest after eight years from the time he made the first borrowing. Find the rate of interest.
MEDIUM
CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 25
Some amount was lent at 6% per annum simple interest. After one year, ₹6800 is repaid and the rest of the amount is repaid at 5% per annum. If the second year's interest is half of the first year's interest, find what amount of money was lent out.
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CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 26
An amount of ₹12820 due 3 years, hence, is fully repaid in three annual instalments starting after one year. The first instalment is 12 the second instalment and the second instalment is 23 of the third instalment. If the rate of interest is 10% per annum, find the first instalment.
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CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 29
A sum is divided between A and B in the ratio of 1:2. A purchased a car from his part, which depreciates 1427% per annum and B deposited his amount in a bank, which pays him 20% interest per annum compounded annually. Approximately by what percentage will the total sum of money increase after two years due to this investment pattern?
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CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 30
Michael Bolton had $90000, of which he purchased a car, a laptop and a flat for $15000, $13000 and $35000 respectively and deposited the remaining money in a bank deposit that pays compound interest at 15% per annum. After two years, he sold the three items at 80% of their original price and withdrew his entire money from the bank closing the account. What is the total change in his assets?