Question

16. Saurav lends * 12,000 to Vikas for 4 years and * 30,000 to Naresh for 6 years at the same rate of interest.
Total interest he received from both is * 2,400. Find the rate of interest.

Answer 1

Answer:

RATE = SI+100/P*T

Explanation:

Answer 2

Answer:

Here's Your Answer

Explanation:

The rate is 1.05%

Step-by-step explanation:

Since, Saurabh lends Rs 12000 for 4 years at the rate of r% (say).

So, SI_1 = \dfrac{P\times r\times t}{100}SI

1

=

100

P×r×t

SI_1 = \dfrac{12000\times r\times 4}{100}SI

1

=

100

12000×r×4

SI_1 = 480rSI

1

=480r ............(1)

Similarly, Saurabh lends Rs 30000 for 6 years at the rate of r%.

Therefore, SI_2 = \dfrac{P\times r\times t}{100}SI

2

=

100

P×r×t

SI_2 = \dfrac{30000\times r\times 6}{100}SI

2

=

100

30000×r×6

SI_2 = 1800rSI

2

=1800r ........(2)

The sum of both interests is Rs 2400.

SI_1 + SI_2 = 2400SI

1

+SI

2

=2400

480r + 1800r = 2400

2280r = 2400

r = \dfrac{240}{228}\%r=

228

240

%

r = 1.05%

Thus, the rate is 1.05%.