Question:
A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:
[A].5%
7%
10%
A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:
[A].
[B].
[C].
| 7 | 1 | % |
| 8 |
[D].
Answer: Option D
Explanation:
Let the rate be R% p.a.
| Then, | 5000 x R x 2 | + | 3000 x R x 4 | = 2200. | ||||
| 100 | 100 |
100R + 120R = 2200
| R = | 2200 | = 10. | ||
| 220 |
Rate = 10%.