Discussion :: Simple Interest
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A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:
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Answer : Option D
Explanation :
| Then, | \( [\frac { 5000*R*2 } { 100 } ]\) | + | \([\frac { 3000*R*4 } {100 }]\) | = 2200. | ||||
100R + 120R = 2200
| R =\([ \frac { 2200 } { 220 }]\) |
= 10. | |||
Rate = 10%.
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