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:
papay dey Answered question February 15, 2025
Let’s denote the rate of interest as R.
Simple interest from B = (5000 × R × 2) / 100
= 100R
Simple interest from C = (3000 × R × 4) / 100
= 120R
Total interest received = 2200
100R + 120R = 2200
Combine like terms:
220R = 2200
Divide both sides by 220:
R = 10
The rate of interest per annum is 10%.
papay dey Answered question February 15, 2025
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