Question 96

Deepanshu lent Rs. 8400 to Jaipal for 15 years and Rs. 5100 to Kareem for 14 years on simple interest at the same rate of interest and received Rs. 17766 in all from both of them as interest. The rate of interest per annum is

Solution

rate of interest per annum = $$r\%$$

Sum lent to Jaipal = Rs. 8400 for 15 years and Rs. 5100 to Kareem for 14 years

Simple interest = $$\frac{P \times R \times T}{100}$$

=> Total interest = $$(\frac{8400 \times r \times 15}{100}) + (\frac{5100 \times r \times 14}{100}) = 17766$$

=> $$1260r + 714r = 17766$$

=> $$1974r = 17766$$

=> $$r = \frac{17766}{1974} = 9\%$$

=> Ans - (D)

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