Question

    A borrowed Rs. 5500 from B for his business. How much

    amount A will return to B at the end of 21 months such that the sum was borrowed at simple interest of 24% p.a.?
    A Rs. 7510 Correct Answer Incorrect Answer
    B Rs. 7210 Correct Answer Incorrect Answer
    C Rs. 7810 Correct Answer Incorrect Answer
    D Rs. 7310 Correct Answer Incorrect Answer

    Solution

    Amount to be returned by A = {(5500 × 0.24 × 21)/12} + 5500 = 2310 + 5500 = Rs. 7810

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