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

    Question

    A borrowed Rs. 7000 from B for his business. How much

    amount A will return to B at the end of 30 months such that the sum was borrowed at simple interest of 20% p.a.?
    A Rs. 7500 Correct Answer Incorrect Answer
    B Rs. 11000 Correct Answer Incorrect Answer
    C Rs. 10500 Correct Answer Incorrect Answer
    D Rs. 16500 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount to be returned by A = {(7000 × 0.20 × 30)/12} + 7000 = 3500 + 7000 = Rs. 10500

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