1.

Mr. Khanna took a loan of Rs.10,000/- on simple interest for two years at the rate 3 p.c:p.a:The total amount that he will be paying as interest in 2 years is 3% of his monthly salary. What is his monthly salary?1). Rs.30,000/ -2). Rs. 16,000/-3). Rs.20,000/-4). Rs. 12,000/-

Answer»

Solution

$S.I. = \FRAC{Principal \times RATE \times time}{100}$

= $\frac{10,000 \times 3 \times 2}{100}$

= Rs. $600$

$\therefore$ MR. Khanna's monthly salary

= $600 \times \frac{100}{3}$

= Rs. $20,000$



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