Question

Intrestakash lent rs.180 to bikash for 10 years and rs.200 to chand for 2 years at simple interest, the rate of interest being same in both the cases. He received rs.220 as total interest. Find out the rate of interest.

Answer 1

Answer:

Rate of interest is 10%

Explanation:

Formula for Simple Interest is

SI = (P × R × T)/100

where, P = Principal amount, R = Rate of interest, T = Time in years

Given that Intrestakash lend Rs 180 to Bikash for 10 years at certain rate of interest.

We have

P1 = Rs 180

T1 = 10 years

R1 = R%

Also, Intrestakash lend Rs 200 to Chand for 2 years at certain rate of interest.

We have

P2 = Rs 200

T2 = 2 years

R2 = R% (as rate is same in both cases)

Simple interest received is Rs 220

SI(Total) = SI (From Bikash) + SI (From Chand)

220 = (180 × R × 10)/100 + (200 × R × 2)/100

220 = (18 × R) + (4 × R)

18R + 4R = 220

22R = 220

R = 220/22

R = 10%