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%
[B].	7%
[C].	7 1/8 %
[D].	10%

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%.

Aptitude :: Simple Interest : More Exercises

Simple Interest - General Questions

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:

Aptitude :: Simple Interest : More Exercises

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