a lent rupees 5000 to B for 2 years and rupees 3000 to C for 4 years on simple interest at the same rate of interest and recieved rupees 2200 in all from both of them as interest. what is the rate of interest per annum
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Answer:Let R% be the rate of simple interest then,
from question we can conclude that
(5000∗R∗2100)+(3000∗R∗4100)=2200<=>100R+120R=2200<=>R=10%
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