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  9. Q266

ibps-so 2020 · Question 266 of 351

A fan is sold for Rs.1250 cash or for Rs.500 cash down payment together with Rs.800 to be paid after one month. Find the rate of interest charged in the installment scheme.

  1. A60%
  2. B90%
  3. C80%Correct
  4. D40%
  5. ENone of these

Answer: C. 80%

Explanation

Principal for the next month = 1250 - 500 = 750 Amount paid after next month = 750 Therefore interest charged at Rs.750 = 800 - 750 = Rs.50 So 750 × R × 1/ (12 × 100) = 50 Rate of interest (R) = 80% per annum

Source: IBPS SO Prelims Memory Based 2020 (IT/AFO/HR/Marketing) - ixamBee · memory-based

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