Raju will pay instalments of ₹ 3,150 per month for the next 3 years towards his loan at an interest rate 12.4%, discounted monthly, what was the…

CA Foundation · Quantitative Aptitude · PYQS · May 2025
Raju will pay instalments of ₹ 3,150 per month for the next 3 years towards his loan at an interest rate 12.4%, discounted monthly, what was the approximate amount of loan taken initially? [Given that (1.01033) 36 = 1.448]
(A) A. ₹ 13,683.60
(B) B. ₹ 9,742.29
(C) C. ₹ 94,345.17
(D) D. ₹ 74,158.24

Suggested Answer and Working Notes:

Correct Answer: Option (C)

C. ₹ 94,345.17

Topics: Part-A: Business Mathematics

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