Question 100

A bank agrees to lend a loan to Arvind of Rs.2,38,75,697 which falls short by 17% for starting his business. How much more loan would he need?

Solution

Let the amount need by Arvind to start business = Rs. x

The amount loaned to him is 17% less than what he needs to start his business. Hence,

x - (17% of x) = Rs. 23875679

0.83 x = Rs. 23875679

x = Rs. 28765900 (approx.)

Amount Arvind needs after obtaining the bank loan = 28765900 - 23875697 = Rs. 4890203.

A is correct choice.

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