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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 Rs. 8190 as interest at the end of 3 years, what was her loan amount ?
Answer & Solution
Correct Answer:
Option
E
Let the loan amount be Rs. x
$$\eqalign{ & {\text{Then,}} \cr & \Rightarrow \frac{{6x}}{{100}} + \frac{{7.5x}}{{100}} + \frac{{9x}}{{100}} = 8190 \cr & \Rightarrow 22.5x = 819000 \cr & \Rightarrow x = 36400 \cr} $$
$$\eqalign{ & {\text{Then,}} \cr & \Rightarrow \frac{{6x}}{{100}} + \frac{{7.5x}}{{100}} + \frac{{9x}}{{100}} = 8190 \cr & \Rightarrow 22.5x = 819000 \cr & \Rightarrow x = 36400 \cr} $$
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