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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=5Γ—100Γ—16/100=80Rs ATQ- 80=9600 1=120 100=12000. Taken loan =12000.

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