Management Aptitude Test 2017 Paper

Question : 98 of 200

Marks: +1, -0

If a person repaid ₹ 22500 after 10 years of borrowing a loan at 10% per annum simple interest, find out what amount did he take as a loan?

Solution:

(b) ₹ 11250
Let the amount borrowed by person = ₹ P
Then, Amount = P

(1+{RT}/100)

⇒ 25000 = P

(1+{10×10}/100)

⇒ 22500 = 2P
⇒ P = ₹ 11250

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