Latest Bank Exam Aptitude Question SOLUTION: Amit lent out Rs. 900 on the condition that the loan is payable in 10 months in 10 equal instalments of Rs. 100 each. Find the rate of interest per annum. ??

• Placement Papers
• /
• Bank Exam
• /
• Numerical Ability
• /
• Percentage

Bank Exam Question Papers:

(#M40155371) BANK EXAM Numerical Ability question SI & CI Keep an EYE

Amit lent out Rs. 900 on the condition that the loan is payable in 10 months in 10 equal instalments of Rs. 100 each. Find the rate of interest per annum. ??

Asked In Bank Exam mini atreya (8 years ago)

Unsolved Read Solution (3)

Is this Puzzle helpful?   (3)   (1) Submit Your Solution Percentage

Read Solution (3) :

MRINAL MOHAN  (8 years ago)

According To Question,
SI+Principal Amt=10 Months *Rs 100/Month=Rs.1000/-
Principal Amt.=Rs 900/-
T=10Months=10/12Years
Rate=?
Rate=SI*100/PT
=Substitute the values in above eqn.
R=40/3% per annum
SI=100
R=PRT

Is this solution Helpfull? Yes | No (1)  

himanshu shekhar  (8 years ago)

100*10=900+((900*10*r)/100*12)
==>> r=40/3%

Is this solution Helpfull? Yes | No (1)  

RAMESH  (8 years ago)

Amit paid Rs 100 (1000-900) as interest, But he paid it for usage of money for different period ie first Rs100 is paid at the end of 1st month so that 100 is used for only one month,pay 100 x 1/12 x r/100. next month he pay 100 that 100 use for 2 month so pay 100 x 2/12 x r/100 + ....
ie 100 x 1/12 x r/100 + 100 x 2/12 x r/100 + ....... + 100 x 10/12 x r/100 = 100
r/12 x 10 x 11/2 = 100
r = (100 x 2 x 12) / (10 x 11)
= 21 9/11 %

Is this solution Helpfull? Yes | No   

Please Login to Read Solution.