Question

Mr. Ramesh availed a loan at simple interest at 6% in the first year, with an increase of 0.5% in every subsequent year. How much loan did he take?

• A. Rs. 10950
• B. Rs. 11950
• C. Rs. 12500
• D. Rs. 1270

Answer 1

Answer: (C)

Rs. 12500

Answer 2

The correct answer is (C): Rs. 12500