1. Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?

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By: guest on 01 Jun 2017 11.48 am

Let rate = R% and time = R years. Then, 1200 x R x R = 432 100 12R2 = 432 R2 = 36 R = 6.

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