REENA TOOK A LOAN OF ₹1200 WITH SIMPLE INTEREST FOR A CERTAIN NUMBER OF YEARS. THE NUMBER OF YEARS ARE SAME AS THE INTEREST INTEREST RATE. IF SHE HAS PAID ₹432 AS INTEREST AT THE END OF THE LOAN PERIOD, WHAT WAS THE RATE OF INTEREST?
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Answer:
Let rate =R% and time =R years
Then, (1001200×R×R)=432
12R2=432
R2=36
R=6
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