Practicing Success
Practicing Success
CUET Preparation Today
Reena took a loan of Rs.1200 with simple interest for as many years as the rate of interest is. If she paid Rs.432 as interest at the end of the loan period, what was the rate of interest? |
6% 8% 9% 5% |
6% |
Let rate = R% and time = R years. Then, \(\frac{1200 × R × R}{100}\) = 432 12R2 = 432 R2 = 36 R = 6% |
