Question

Ajay lend rs.5000 to bala for 2 years and rs.3000 to charu 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:

Answer 1

S.I. received from bala= 5000*2*x/100=100x

S.I received from charu=3000*4*x/100=120x

Total S.I.=2200

tharefore, 100x+120x=2200

220x=2200

x=2200/220=10

Rate=10 % p.a.

hope it helps