ram and rahim borrowed rs 16000 and rs 12500 respectively at same rate of simple interest for 3 years if ram paid rs 1890 more interest than rahim find the rate of interest per annum
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Answer:
ram borrowed 16000
interest=r
rahim borrowed 12500
n=3
Interest paid by rahim =
100
pnr
=
100
(3500)(3)(r)
=105r
Interest paid by ram=
100
pnr
=
100
(16000)(3)(r)
=90r
Given, 105r−90r=150
r(15)=150
⇒r=10
∴ rate of interest =10% per annum
Step-by-step explanation:
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