As per agreement with a bank, a businessman had to refund a loan in some equal installments without interest. After paying 18 installments he found that 60 percent of his loan was refunded. How many installments were there in the agreement?
- A22
- B24
- C30Correct
- D33
Explanation
Explanation: Let the total number of installments be 'X'. According to the problem, 18 installments represent 60 percent of the total loan. So, 60% of X = 18. To find X, we can set up the equation: (60/100) * X = 18 X = 18 * (100/60) X = 18 * (10/6) X = 3 * 10 X = 30
Thus, there were 30 installments in the agreement.
Analyzing the options: A) 22: Incorrect. This number does not correspond to 60% being 18 installments. B) 24: Incorrect. This number does not correspond to 60% being 18 installments. C) 30: Correct. If the total is 30 installments, then 60% of 30 is (60/100) * 30 = 18 installments, which matches the given information. D) 33: Incorrect. This number does not correspond to 60% being 18 installments.
The final answer is C.
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