Multiple Choice Questions on Arya borrows rupees 6000 from a bank at SI After 4 years she paid Rs 2500 to the bank and at the end........... for Study NOtes Preparation

Back to Main Page

Multiple Choice Questions

Arya borrows rupees 6000 from a bank at SI After 4 years she paid Rs 2500 to the bank and at the end...........

Quantitative Aptitiude (CLAT) Simple Interest
    Download Solution PDF

    Arya borrows rupees 6000 from a bank at SI. After 4 years she paid Rs 2500 to the bank and at the end of 5 years from the date of borrowing he paid Rs 4560 to settle the account. Find the rate of interest (approx) ?

    3.25%

    Incorrect Answer

    3.50%

    Incorrect Answer

    3.85%

    Correct Answer

    4%

    Incorrect Answer
    Explanation:

    Total interest she paid = 6000*(r/100)*4 + 3500*(r/100)*1 = 275r
    total interest = 2500 + 4560 – 6000 = 1060
    so 1060 = 275r, r = 3.85% approx

    By: Sandeep Dubey
    ProfileResources

    Let's Discuss

    What our students have to say
    Review on us
    Download Abhipedia Android App

    Access to prime resources

    Downlod from playstore
    download android app download android app for free