Question

A&B borrowed rs.3500 & rs.4000 respectively at da same rate of interest for 2 and a half years. If b paid rs.150 more than a, find the rate

Answer 1

We assume it is simple interest as it is not specified.

Rs 4, 000 * r/100 * 2.5 - Rs 3, 500 * r/100 * 2.5 = Rs 150

(10,000 - 8, 750) r/100 = 150 
        
      r = 150*100 /1250 = 12%