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Question 90
Dalajit lent Rs 10800 to Jaabir for 3 years and Rs 7500 to Kabir for 2 years on simple interest at the same rate of interest and received Rs 1422 in all from both of them as interest. The rate of interest per annum is
Solution
Let rate of interest per annum = $$r\%$$
Sum lent to Jaabir = Rs. 10,800 for 3 years and Rs. 7500 to Kabir for 2 years
Simple interest = $$\frac{P \times R \times T}{100}$$
=> Total interest = $$(\frac{10800 \times r \times 3}{100}) + (\frac{7500 \times r \times 2}{100}) = 1422$$
=> $$324r + 150r = 1422$$
=> $$474r = 1422$$
=> $$r = \frac{1422}{474} = 3\%$$
=> Ans - (C)
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