Question 67
Rani lent Rs.8000 to Seeta for 2 years and Rs.5000 to Tina for 4 years on simple Interest at the same rate of interest and received Rs.3600 in all from both of them as interest. The rate of interest per annum is:
Solution
Let us assume the rate of interest to be R% p.a.
Interest earned from Seeta = $$8000\times\ 2\times\ \frac{R}{100}=160R$$
Interest earned from Tina = $$5000\times\ 4\times\ \frac{R}{100}=200R$$
Total interest earned = 160R + 200R = 360R = 3600
R = 10% p.a.
Get AI Help
Create a FREE account and get:
- Download Maths Shortcuts PDF
- Get 300+ previous papers with solutions PDF
- 500+ Online Tests for Free
