14) Sandeep borrowed * 3000 for 4 years and 8000 for 2 1/2 years from Sonia at the same rate of interest. The total interest earned by Sonia is 2880. Find the rate of interest.
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Answer:
r = 9%
Step-by-step explanation:
Simple interest =Principle×rate×time/100
Total interest =3000×r×4/100 +8000×r×5/2÷100=2880
⇒10r(12+20)=2880
⇒r=288/32
⇒r=9%
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