insurence exam UIIC Assistant Mock Test 2023 Quantitative Aptitude Interest Simple and Compound Both
A man borrowed Rs.80000 at a simple interest of 5% per annum. After 5 years, he deposited an amount of Rs.50000, and the interest on the remaining amount was computed at a rate of 10% per annum compounded annually. After 2 years, he was given a rebate and he cleared his debt by paying Rs.55000. How much money was rebated?
1
Rs.4000
2
Rs.5000
3
Rs.5500
4
Rs.7500
5
Rs.8000