Nirav took a loan of Rs. 201900 from PNB with simple interest for as many years as the rate of inter

M4maths Previous Puzzles

14 Jan 2019 Simple Interest

Nirav took a loan of Rs. 201900 from PNB with simple interest for as many years as the rate of interest. If he was supposed to pay Rs. 395724 as interest at the end of the loan period, what was the rate of interest?

OPtion

1) 11
2) 10
3) 11.5
4) 12.5
5) 14.5
6) 15
7) 16
8) 14.0
9) 15.5
10) None of these

Solution

SI = PRT/100
=> 395724 = (201900 *R*T)/100
As R=T so => 395724 = (201900 *R*R)/100

R^2 = 395724 * 100/201900 = 196
=> R= 14

Option 8)

Correct Option: 8 Best Solution (0)