Aptitude - Simple Interest - Discussion
Discussion Forum : Simple Interest - General Questions (Q.No. 5)
5.
Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?
Answer: Option
Explanation:
Let rate = R% and time = R years.
| Then, |  |
1200 x R x R |  |
= 432 |
| 100 |
12R2 = 432
R2 = 36
R = 6.
Video Explanation: https://youtu.be/TjjI4iRkzT0
Discussion:
62 comments Page 2 of 7.
Dunoo Michael said:
4 years ago
Looking at the question,
R = sI * 100/p * T.
R * R = 432*100/ 1200,
R * R = 36,
R = 6.
R = sI * 100/p * T.
R * R = 432*100/ 1200,
R * R = 36,
R = 6.
(2)
Bhargav said:
5 years ago
I got the answer 18, can anyone please explain?
(2)
Zahid Hasan said:
5 years ago
I= prn/100,
So r=I * 100/pn, atq r=n=x (let),r=36/x as r=n x2=36, x=6.
So r=I * 100/pn, atq r=n=x (let),r=36/x as r=n x2=36, x=6.
Arafat shaikh said:
5 years ago
Thanks for explaining it.
Sivakumar Tadisetti said:
6 years ago
Friends, here `as many years as the rate of interest` means
* If you pay Loan Amount + Interest in 2 years(T) then the interest rate should be 2%(R)
* If you pay Loan Amount + Interest in 3 years(T) then the interest rate should be 3%(R)
* If you pay Loan Amount + Interest in 5 years(T) then the interest rate should be 5%(R) and so on
That's the reason, they took R = T and option wise 6 is satisfying the above criteria.
Because 6%(432) = RS.72 needs to pay per year as interest and for 6 years it will be 6 * 72 = RS.432.
So the rate of interest is 6 and years also 6.
* If you pay Loan Amount + Interest in 2 years(T) then the interest rate should be 2%(R)
* If you pay Loan Amount + Interest in 3 years(T) then the interest rate should be 3%(R)
* If you pay Loan Amount + Interest in 5 years(T) then the interest rate should be 5%(R) and so on
That's the reason, they took R = T and option wise 6 is satisfying the above criteria.
Because 6%(432) = RS.72 needs to pay per year as interest and for 6 years it will be 6 * 72 = RS.432.
So the rate of interest is 6 and years also 6.
Sudhakar said:
6 years ago
@Bhavya Answer is two digits number only why because the first one hr is 34 speed and another hr is also same as the speed 34. So avg is 34 only.
Mamta said:
7 years ago
Thanks for explaining this.
Moumita said:
7 years ago
I don't understand this, please help me.
Nitish Kumar said:
7 years ago
Why we take r=t ?
Please give an correct explanation of this question.
Please give an correct explanation of this question.
Vamsi reddy said:
7 years ago
100% = 1200,
X*X = 432,
X*X = 36,
X = 6.
X*X = 432,
X*X = 36,
X = 6.
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