Home › SSC CGL › Quantitative Aptitude › Simple & Compound Interest › Abeje secured a bank loan running for how many m…
Abeje secured a bank loan running for how many months?
AFour
BNine
CSeven
DThree
Answer & Solution
Correct answer: A. Four
1. The loan was for the sum of $20,000.
2. Her annual percentage rate was 6.75 per cent.
3. The term was four months.
_Source: OpenStax, Contemporary Mathematics, Ch 6 'Money Management'_
Related questions
Another worked compound example used a principal of:A 17 year worked example compounded how many times a year?Cody's account compounded quarterly at what annual rate?Compound interest grows an account faster because more money:A larger worked loan had a payoff amount of:One worked simple interest loan had a payoff of:In another worked loan, the partial payment fell after how many days?The interest portion of that partial payment came to: