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    Question

    Raman paid Rs.9,600 in interest on a loan she obtained 5

    years ago with a simple interest rate of 16%. What was the amount of the loan she had taken?
    A 7000 Correct Answer Incorrect Answer
    B 12000 Correct Answer Incorrect Answer
    C 16000 Correct Answer Incorrect Answer
    D 8000 Correct Answer Incorrect Answer

    Solution

    Let the taken loan =100Rs So, interest on 100 Rs at the rate of 16% for 5 years=5×100×16/100=80Rs ATQ- 80=9600 1=120 100=12000. Taken loan =12000.

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