Ram lent rs 1200 to satish for 5 years and rs 1500 to mohan for rs 2 years and received altogether rs 900 as simple interest.find the rate of interest per annum
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let the rate of interest be r
a/q
(1200x5xr/100) +(1500×2×r/100)= 900
60r+ 30r =900
90r= 900
r = 10
therefore, the rate of interest is 10%
a/q
(1200x5xr/100) +(1500×2×r/100)= 900
60r+ 30r =900
90r= 900
r = 10
therefore, the rate of interest is 10%
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