Question 96
Deepinder lent Rs 8200 to Jairaj for 16 years and Rs 4900 to Karna for 15 years on simple interest at the same rate of interest and received Rs 19446.5 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 Jairaj = Rs. 8200 for 16 years and Rs. 4900 to Karna for 15 years
Simple interest = $$\frac{P \times R \times T}{100}$$
=> Total interest = $$(\frac{8200 \times r \times 16}{100}) + (\frac{4900 \times r \times 15}{100}) = 19446.5$$
=> $$1312r + 735r = 19446.5$$
=> $$2047r = 19446.5$$
=> $$r = \frac{19446.5}{2047} = 9.5\%$$
=> Ans - (C)
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