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Home Aptitude Simple Interest See What Others Are Saying!
  • Question
  • Praveena 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 ?


  • Options
  • A. 6
  • B. 7
  • C. 9
  • D. 11

  • Correct Answer


  • Explanation

    Let rate = R% and time = R years.

     

    Then, (1200 x R x R) / 100 = 432

     

    => R = 6.

  • Tags: GATE, CAT, Bank Exams, AIEEE, Bank PO, Bank Clerk

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