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?

• A. Rs. 110000
• B. Rs. 150000
• C. Rs. 120000
• D. Rs. 100000
• E. Rs. 90000

Hint:

When dealing with interest calculations, make sure to correctly identify the principal amount and apply the interest rate to the correct amount.

Answer 1

The Correct Option is C

Step 1: Calculate the outstanding amount.
Let the original price of the mobile be \( x \). - Payment via UPI: \[\text{UPI payment} = \frac{x}{6}\]- Payment via cash: \[\text{Cash payment} = \frac{x}{3}\]Total amount paid: \[\frac{x}{6} + \frac{x}{3} = \frac{x}{6} + \frac{2x}{6} = \frac{3x}{6} = \frac{x}{2}\]Outstanding amount remaining:\[\text{Balance amount} = x - \frac{x}{2} = \frac{x}{2}\]
Step 2: Calculate the interest.
Interest paid on the outstanding amount is 10%, amounting to Rs. 6000:\[\text{Interest} = 10% \times \frac{x}{2} = \frac{10}{100} \times \frac{x}{2} = \frac{x}{20}\]Given interest paid:\[\frac{x}{20} = 6000\]
Step 3: Determine the original price \( x \).
Multiply both sides by 20:\[x = 6000 \times 20 = 120000\]
Final Answer: \[\boxed{\text{Rs. 120000}}\]