- Hey guys please post your replies if you can solve this problem,

Mr. X, wants to his establish his industry. For this, he requires an instant loan of Rs.5,00,000 and every five years he requires an additional loan of Rs.1,00,000. If he had to clear all his outstanding in 20 years, and he repays the principal of the first loan equally over 20years, find what amount he would have to pay as interest on his initial borrowing if the rate is 10% p.a. Simple Interest. - --- In ascent4cat@yahoogroups.com, "udhay_explode" <udhay_explode@...> wrote:
>

10/100*[20*5,00,000+(15+10+5)*1,00,000]

> Hey guys please post your replies if you can solve this problem,

>

> Mr. X, wants to his establish his industry. For this, he requires an instant loan of Rs.5,00,000 and every five years he requires an additional loan of Rs.1,00,000. If he had to clear all his outstanding in 20 years, and he repays the principal of the first loan equally over 20years, find what amount he would have to pay as interest on his initial borrowing if the rate is 10% p.a. Simple Interest.

>

=13,00,000RS. i think ani is correct. --- On

**Fri, 10/1/10, Ani**wrote:*<anicoolrudh@...>*

From: Ani <anicoolrudh@...>

Subject: [2IIM CAT Prep] Re: Simple Interest

To: ascent4cat@yahoogroups.com

Date: Friday, October 1, 2010, 1:47 PM

--- In ascent4cat@yahoogroups.com, "udhay_explode" <udhay_explode@...> wrote:

>

> Hey guys please post your replies if you can solve this problem,

>

> Mr. X, wants to his establish his industry. For this, he requires an instant loan of Rs.5,00,000 and every five years he requires an additional loan of Rs.1,00,000. If he had to clear all his outstanding in 20 years, and he repays the principal of the first loan equally over 20years, find what amount he would have to pay as interest on his initial borrowing if the rate is 10% p.a. Simple Interest.

>

10/100*[20*5,00,000+(15+10+5)*1,00,000]

=13,00,000RS.