Kabir paid Rs. 9600 as interest on a loan he took 5 years ago at 16% rate of simple interest. What was the amount he took as loan?
Question and options
Kabir paid Rs. 9600 as interest on a loan he took 5 years ago at 16% rate of simple interest. What was the amount he took as loan?
- 16400
- 12000
- 12500
- 18000
Answer and explanation
Correct answer: B - 12000
SI = , so P = = Rs 12,000.
Practice for these exams
-
CUSAT CAT Five-Year LL.B.
Related question papers
Related exam syllabi
More solved explanations in Arithmetic
- The circle \(x^2 + y^2 - 6x - 10y + k = 0\) does not touch or intersect the coordinate axes. If the point \((1, 4)\) does not lie outside the circle, and the range…
- A vendor bought a number of bananas at 3 for a rupee and sold them at 2 for a rupee. Find his gain per cent.
- Compound Interest on ₹1000 at 10% for 1 year:
- Let \(a, b, c, d\) be positive integers such that \(a + b + c + d = 2023\). If \(a: b = 2:5\) and \(c:d=5:2\), then the maximum possible value of \(a + c\) is
- If 2x^2 - 3x + a and 2x^2 + x - b have a common factor, then common factor is :