sandeep invested rs 3000 for 4 years and rs 8000 for 2 1/2 years at the same rate of interest.the total interest earned is rs 2880.find the rate of interest.
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Answer:
9 % per annum
Step-by-step explanation:
Let say rate of interest = r % per annum
Interest from 3000 = 3000 * r * 4 / 100 = 120r
Interest from 8000 = 8000 * r *(5/2) / 100 = 200r
total interest = 120r + 200r = 320r
320 r = 2880
r = 288/32
r = 9
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