Question

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:
A. 5%
B. 7%
C. 7 1/8%
D. 10%

Answer 1

Let
the rate be R% p.a.

Then,

((5000*R*2)/100) + ((3000*R*4)/100) = 2200.

=> 100R + 120R = 2200

=> R = (2200/220) = 10.

Rate = 10%.

Answer 2

D part 10 percent is the right answer.

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