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IBPS PO Mains 2016 Paper for online practice
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© examsnet.com
Question : 1
Total: 200
Ankita borrows ₹ 7000 at simple Interest from a lender. At the end of 3 years, she again borrows ₹ 3000 and settled that amount after paying ₹ 4615 as interest after 8 years from the time she made the first borrowing. What is the rate of interest?
5.5%
9.5%
7.5%
6.5%
None of the Above
Validate
Solution:
SI for Rs.7000 for 8 years =
7000
×
r
×
8
100
Again borrowed = 3000
SI =
3000
×
r
×
5
100
Total interest =
[
7000
×
r
×
8
100
+
[
3000
×
r
×
5
100
]
= 4615
560r + 150r = 4615
710r = 4615
r = 6.5%
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