A person deposited rs. 400 for 2 years, rs. 550 for 4 years and rs. 1,200 for 6 years at same rate of interest per annum. He received the total simple interest of rs. 1,020. The rate of interest per annum is
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23
Answer:
10%
Explanation:
SI = 1020 Rs.
T1 = 2 yrs T2 = 4 yrs T3 = 6 yrs
P1 = 400 P2 = 550 P3 = 1200
Let the Rate of interest be = R% per annum
SI = PRT/100
= 400×R×2/100 + 550×R×4/100 + 1200×R×6/100 = 1020
= 8R + 22R + 72R = 1020
= 102R = 1020
R = 1020/102
R = 10%
Thus, the rate of interest per annum is 10%.
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0
Answer:
10
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