a person deposited ₹400 for 2 years, ₹550 for 4 years and ₹1200 for 6 years at the same rate of simple interest. if he received a total interest of ₹1020, what is the rate of interest per annum?
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Step-by-step explanation:
According to the question,
400×R×2100+550×R×4100+1200×R×6100=1020400×R×2100+550×R×4100+1200×R×6100=1020
8R+22R+72R=10208R+22R+72R=1020
102R=1020102R=1020
R= 10 %
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Step-by-step explanation:
r =10%
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