Question
Download Solution PDFSuman 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?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Suman paid Rs.9,600 in interest on a loan she obtained 5 years ago with a simple interest rate of 16%.
Concept used:
S.I = (P × T × R)/100
P = Sum
T = Time
R = Rate
Calculation:
Let the sum be Rs. x
According to the question,
9600 = (x × 16 × 5)/100
⇒ 9600 × 10 = 8x
⇒ x = 96000/8
⇒ x = 12000
So, the sum is Rs. 12000
∴ The amount of the loan she had taken was Rs. 12,000.
Last updated on Jul 21, 2025
-> NTA has released UGC NET June 2025 Result on its official website.
-> SSC Selection Post Phase 13 Admit Card 2025 has been released at ssc.gov.in
-> The SSC CGL Notification 2025 has been announced for 14,582 vacancies of various Group B and C posts across central government departments.
-> The SSC CGL Tier 1 exam is scheduled to take place from 13th to 30th August 2025 in multiple shifts.
-> Candidates had filled out the SSC CGL Application Form from 9 June to 5 July, 2025. Now, 20 lakh+ candidates will be writing the SSC CGL 2025 Exam on the scheduled exam date. Download SSC Calendar 2025-25!
-> In the SSC CGL 2025 Notification, vacancies for two new posts, namely, "Section Head" and "Office Superintendent" have been announced.
-> Candidates can refer to the CGL Syllabus for a better understanding of the exam structure and pattern.
-> The CGL Eligibility is a bachelor’s degree in any discipline, with the age limit varying from post to post.
-> The SSC CGL Salary structure varies by post, with entry-level posts starting at Pay Level-4 (Rs. 25,500 to 81,100/-) and going up to Pay Level-7 (Rs. 44,900 to 1,42,400/-).
-> Attempt SSC CGL Free English Mock Test and SSC CGL Current Affairs Mock Test.
-> NTA has released the UGC NET Final Answer Key 2025 June on its official website.