B.A./B.COM. LL.B. (5 YEAR LAW / U.G. LAW) Panjab University Entrance Exam 2021 : MCQs and Answer Key

Practice Mode:
100.

Simi took a loan of Rs. 4200 with simple interest for as many years as the rate of interest. If she paid Rs. 2058 as interest at the end of loan period, what was the rate of interest ?

A: 49%
B: 14%
C: 7%
D: 20%

The answer is: C