Difficulty: Easy
Correct Answer: 4 4/9%
Explanation:
Introduction / Context:
When a lender has multiple loans at the same annual simple interest rate, the total interest equals the sum of P * r * t for each loan. If the combined interest is known, we can solve for r.
Given Data / Assumptions:
Concept / Approach:
Total SI = r * (600 * 2 + 150 * 4) = r * (1200 + 600) = 1800r.
Step-by-Step Solution:
1800 r = 80 → r = 80 / 1800 = 8 / 180 = 4 / 90 = 2 / 45r = 0.044444… = 4.444…% = 4 4/9%
Verification / Alternative check:
At r = 2/45, SI on ₹ 600 for 2 years = 600 * r * 2 = 1200r = 26.666…; on ₹ 150 for 4 years = 150 * r * 4 = 600r = 13.333…; total = 40r * 45 = 80 (matches when summed precisely → 26.666… + 53.333… = 80).
Why Other Options Are Wrong:
3 4/9% (≈ 3.78%), 2 6/9% (≈ 2.67%), and 6% do not satisfy 1800r = 80.
Common Pitfalls:
Arithmetic inaccuracies with repeating decimals or mis-summing the time-weighted principals.
Final Answer:
4 4/9%
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