Question

11. Neha and Priya borrowed 5400 and 6000, respectively, at the same rate of interest
years. If Priya paid 240 more than Neha, then find the rate of interest.​

Answer 1

Answer:

25%

Step-by-step explanation:

Let rate of interest be r%

As simple interest = Prt/100

= (5400) r (8/5) ÷ 100 + 240 = (6000) r (8/5) ÷ 100

[ Neha's interest + 240 = Priya's interest ]

1080 × 8r + 24000 = 1200 × 8r

= 8r × (120) = 24000

8r = 200

:: r = 25%