Naina received a loan of 10 lakhs from HDFC bank at the rate of 8% per annum for 3 years. After some time, the interest rate decreased to 5%, and overall, Naina paid 11,80. For how many years has Naina paid the interest of 8%?

1 year

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

1.5 years

No worries! We‘ve got your back. Try BYJU‘S free classes today!

2 years

No worries! We‘ve got your back. Try BYJU‘S free classes today!

2.5 years

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A 1 year
Overall rate of interest =

$\frac{1, 80, 000}{10, 00, 000 \times 3} \times 100 = 6$ %

Using allegations cross, we get the following:

Naina paid the interest of 8% in =

$\frac{1}{3} \times 3 =$

1 year.

Hence, option (A) is the correct answer.

Suggest Corrections

Similar questions

Q. Ravi took a loan of Rs. 1 Lakh from SBI at the rate of

6 %

per annum of simple interest for 10 years. After some time, the rate of interest dropped sown to

4 %

and as a result Ravi paid only Rs. 1.48 lakhs at the end of the loan period. Find out the after how many years the rate of interest was decreased to

4 %

A and B borrowed Rs. 60000 and Rs. 50,000 respectively for a period of 3 years. A paid simple interest at a rate of $10 %$ per annum while B paid compound interest at the rate of $10 %$ per annum compounded annually. Who paid more and by how much?

Q. Raju took a loan at 8% per annum simple interest for a period of 5 years. At the end of five years he paid 10640 to clear his loan. How much loan did he take?

Q. Vidhya has taken a loan of ₹12,000 at the simple interest rate of 10% per annum for 5 years. If she paid ₹6,000 at the end of first year, how much will she pay at the end of 5 years?

For principal of $R s . 5600,$ amount to be paid is $R s . 6720$ at $8 %$ rate of interest per annum. Find the time (in years).

Join BYJU'S Learning Program

Naina received a loan of 10 lakhs from HDFC bank at the rate of 8% per annum for 3 years. After some time, the interest rate decreased to 5%, and overall, Naina paid 11,80. For how many years has Naina paid the interest of 8%?

The correct option is A 1 yearOverall rate of interest = 1,80,00010,00,000×3×100=6% Using allegations cross, we get the following: Naina paid the interest of 8% in = 13×3= 1 year. Hence, option (A) is the correct answer.

The correct option is A 1 year
Overall rate of interest =

$\frac{1, 80, 000}{10, 00, 000 \times 3} \times 100 = 6$ %

Using allegations cross, we get the following:

Naina paid the interest of 8% in =

$\frac{1}{3} \times 3 =$

1 year.

Hence, option (A) is the correct answer.