Reena took a loan of 1400 with simple interest for as many years as the rate of interest.
Reena took a loan of 1400 with simple interest for as many years as the rate of interest. If she paid 224 as interest at the end of the loan period, what was the rate of interest?
Answer/Solution
4
Steps/Work
Explanation: Let rate = R% and time = R years.
Then, (1400 x R x R)/100 = 224
14R² = 224
R² = 16
R = 4.
Answer: Option B
Then, (1400 x R x R)/100 = 224
14R² = 224
R² = 16
R = 4.
Answer: Option B