New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A took loan from a bank at the rate of 17%p.a. simple

    interest. After 5 years he had to pay Rs.6800 interest only for the period. The principal amount borrowed by him was:
    A 9200 Correct Answer Incorrect Answer
    B 8000 Correct Answer Incorrect Answer
    C 8400 Correct Answer Incorrect Answer
    D 7800 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Principal = Rs. [(100× 6800)/(17× 5)] = Rs. 8000

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