Question

Mohan lends 4,800 to John for 4 $\frac{1}{2}$ years and 2,500 to Shyam for 6 years and receives total sum of 2,196 as interest. Find the rate per cent annum, it being the same in both the cases.

Answer 1

Answer:

6%

Step-by-step explanation:

GIVEN :

money lend to john = 4800

for = 4.5 years

money lend to shyam =2500

for = 6 years

total simple interest = 2196

TO FIND :

Rate?

FORMULA

SIMPLE INETERST = P× R%×T

SOLUTION:

simple interest received by john + simple interest received by shyam = 2196

(4800×$\frac{R}{100}$×4.5) +( 2500 ×$\frac{R}{100}$×6) =2196

216R+150R = 2196

366R =2196

R= 2196÷366

R=6%