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Simple Interest Practice Test 4
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© examsnet.com
Question : 6
Total: 26
A farmer took a loan at 12 per cent per annum at simple interest. After 4 years he settled the loan by paying Rs. 2442. What was the principal amount?
Rs. 1542
1550
Rs. 1600
Rs. 1650
Validate
Solution:
Let principal = Rs. x, then
x
+
x
×
12
×
4
100
=
2442
⇒
37
x
25
=
2442
∴
x
=
2442
×
25
37
=
1650
© examsnet.com
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