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CAT Exam Model Paper 2 with solutions for free online practice

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Question : 100

Total: 100

ICICI lent ₹ 1 lakh to captain Ram Singh at the rate 6% per annual of simple interest for 10 years period. Meanwhile ICICI offered a discount in rate of interest for armed forces. The rate of interest ICICI decreased to 4%. In this way Ram Singh had to pay total amount 1.48 lakh.
After how many year Ram Singh got the discount in rated interest?

3 years
4 years
6 years
5 years

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