Question

Ramesh bought a mobile from a local store. He paid 1/6 of the price via UPI and 1/3 of the price via cash. He agreed to pay the balance amount a year later. While paying back the balance amount, Ramesh paid 10% interest on the balance amount. If the interest paid was Rs. 6000, what was the original price of the mobile?

Accepted Answer

A. Let the total price of the mobile phone be $X$. Amount paid via UPI and cash = $\left(\frac{1}{6} + \frac{1}{3}ight)X = \frac{1}{2}X$. Remaining balance amount = $X - \frac{1}{2}X = \frac{1}{2}X$. Interest paid = $10\%$ of balance amount = $0.10 	imes \frac{1}{2}X = 0.05X$. Given $0.05X = 6000 \implies X = \frac{6000}{0.05} = 120,000$. Thus, original price is Rs. 120,000.

Mobile Phone Original Price

Explanation

Practise this under exam conditions