Question

Rihana 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. Find the time period she has take to return the loan.

• A. $3.6years$
• B. $6years$
• C. $18years$
• D. $Cannotbedetermined$

Answer 1

Answer: (B)

$6years$

Principle amount for Rihana $Rs.1200$

Let rate be $x\%p.a$

$\therefore$ Times $=x$ years

Interest paid by Rihana $=Rs.432$

$\Rightarrow \frac{1200\times x\times x}{100}=432$

$\Rightarrow x\times x=\frac{432}{12}\Rightarrow x\times x=36=6\times 6$

$\Rightarrow x=6$

$\therefore$ Time $=6$ years