Kruti took a loan at simple interest rate of 6 p.c.p.a. in the first year and it increased by 1.5 p.c.p.a. every year. If she pays ₹ 8190 as interest at the end of 3years, what was her loan amount? (Bank P.O., 2010)
(a)₹ 35400
(b)₹ 36000
(c)₹ 36800
(d)Cannot be determined
(e)None of these
Answer
Answer (as printed): E
Explanation
Let the loan amount be ₹ $x$. Then, $\frac{6 x}{100}+\frac{7.5 x}{100}+\frac{9 x}{100}=8190 \Rightarrow 22.5 x=819000 \Rightarrow=x=36400$.
Explanation as extracted from the printed page; notation may be imperfect.