A sum of 1500 is lent in the beginning of a year at a certain rate of
interest. After 8 months, a sum of 750 more is lent but at the rate twice
the former. At the end of the year, 67 is earned as interest from both the
loan. Find the original rate of interest.
(A) 2.85%
(B) 3.35%
(C) 3.48%
(D) 3.65%
With explanation
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Step-by-step explanation:
AmountgiventoB=2500
R=7%
T=4years
letamountgiventoC=x
totalinterest=1120
100
2500×4×7
+
100
x×4×7
=1120
700+
100
x×4×7
=1120
x×4×7=(1120−700)×100=420×100
x=
4×7
420
×100
=Rs.1500
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