Question 33

Mr.Nair's monthly salary is rs 22,500. He took a loan of rs 30,000 on simple interest for 3 years at the rate of 5 p.c.p.a. The amount that he will be paying as simple interest in 3 years is what percent of his monthly salary ?

Solution

Interest = (Principal * interest * No. of years )

Interest = (30,000*3*5)/100

Interest = 4,500

x% of 22,500 = 4,500

x = (4500/22,500)*100

x = 20

Create a FREE account and get:

Banking Quant Shortcuts PDF
Free Banking Study Material - (15000 Questions)
135+ Banking previous papers with solutions PDF
100+ Online Tests for Free

CAT Quant Questions | CAT Quantitative Ability

CAT Profit, Loss and Interest Questions CAT Probability, Combinatorics Questions CAT Functions, Graphs and Statistics Questions CAT Mensuration Questions CAT Time, Distance and Work Questions

CAT DILR Questions | LRDI Questions For CAT

CAT Quant Based LR Questions CAT Data Interpretation Basics Questions CAT Puzzles Questions CAT DI with connected data sets Questions CAT Arrangement Questions

CAT Verbal Ability Questions | VARC Questions For CAT

CAT Para Jumbles Questions CAT Miscellaneous Questions CAT Grammar and Sentence Correction Questions CAT Critical Reasoning Questions CAT Odd One Out Questions

Follow us on

Boost your Prep!

Download App