Question 85

A person lent Rs 10000 to B for 3 years and Rs 6000 to C for 4 years on simple interest at same rate of interest and received Rs 5400 in all from both of them as interest. What is the rate of interest (in %)?

Solution

Let rate of interest = $$r\%$$

Sum lent to B for 3 years = Rs. 10,000 and sum lent to C for 4 years = Rs. 6,000

Simple interest = $$\frac{P\times r\times t}{100}$$

According to ques,

=> $$\frac{10,000\times r\times3}{100}+\frac{6,000\times r\times 4}{100}=5400$$

=> $$300r+240r=5400$$

=> $$540r=5400$$

=> $$r=\frac{5400}{540}=10\%$$

=> Ans - (A)

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