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    • Question

      Rahul borrowed Rs. 25,000 from City bank at a simple

      interest of 10% p.a. If he has to repay Rs. 28,750 after ‘p’ months to clear all his debts, find the value of ‘p’.
      A 25 Correct Answer Incorrect Answer
      B 18 Correct Answer Incorrect Answer
      C 11 Correct Answer Incorrect Answer
      D 19 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Simple interest to be paid to bank = 28750 – 25000 = Rs. 3,750

      ATQ;

      3750 = (25000 × 10 × p) ÷ (1200)

      Or, p = 18

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