A person deposited ₹500 for 2 years, ₹600 for 5 years and ₹1000 for 6 years all at the same rate of simple interest. If he received the total simple interest of ₹1000, then what is the rate of interest per annum?

Let's assume the rate of interest is 'R'.

A person deposited ₹500 for 2 years, ₹600 for 5 years and ₹1000 for 6 years all at the same rate of simple interest. If he received the total simple interest of ₹1000.

$$\frac{\left(500\times\ R\times\ 2\right)}{100}+\frac{\left(600\times\ R\times\ 5\right)}{100}+\frac{\left(1000\times\ R\times\ 6\right)}{100}\ =\ 1000$$

10R+30R+60R = 1000

100R = 1000

Rate of interest (per annum) = R = 10%