Home » Aptitude » Simple Interest

Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of Interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?

Correct Answer: 6

Explanation:

Let rate = R% and time = R years.


 


Then,  1200 × R × R 100 = 432


  12 R 2 = 432


 


=> R = 6.


← Previous Question Next Question→

Discussion & Comments

No comments yet. Be the first to comment!
Join Discussion