Question

Neha and Priya borrowed 5400 and 6000, respectively, at the same rate of interest for 8/5 years.
If Priya paid 240 more than Neha, then find the rate of interest. ​

Answer 1

Answer:4.36

Step-by-step explanation:

Let's consider the rate of interest as R.

Neha borrowed 5400 for period of of 8 years.

Hence, interest for Neha is

5400×8×R/100

= 54×8×R

= 432 R

Amt to be paid by Neha is 5400+432R

Similarly, interest for Priya is 300R

Amt to be paid by Priya is 6000+300R.

Priya paid 240 more than Neha.

Hence, amt for Neha +240 = amt for Priya

5400+432R+24 = 6000+300R

432R+ 5424 = 6000+300R

432R - 300R = 6000 - 5424

132R = 576

R = 576/132

R = 4.36

Answer 2

Answer:

25 is the correct answer