Multiple Choice Questions on Nitesh lends an amount of Rs 17000 at simple interest for year same as the rate of interest If he pa........... for CDS Exam Preparation

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Multiple Choice Questions

Nitesh lends an amount of Rs 17000 at simple interest for year same as the rate of interest If he pa...........

Quantitative Aptitude (CDS) Compound Interest
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    Nitesh lends an amount of Rs.17000 at simple interest for year same as the rate of interest. If he paid Rs.251 as interest at the end of the loan period what was the rate of interest?

    6%

    Incorrect Answer

    9%

    Correct Answer

    8%

    Incorrect Answer

    2%

    Incorrect Answer
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    Explanation:

    Let rate =R%  and time=R years 
    Then, (17000×R×R)/100 =251
    170 × R^2=251  
    R^2=251-170
    R=9%

    By: bhavesh kumar singh
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