A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:

Q: A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:

Given Rs. 5,000 lent for 2 years Rs. 3,000 lent for 4 years Total simple interest received = Rs. 2,200 at the same rate r. Compute Total SI = (5000 × r × 2)/100 + (3000 × r × 4)/100= r/100 × (10,000 + 12,000) = 220r220r = 2,200 ⇒ r = 10% per annum

Difficulty: Easy

8% per annum
9% per annum
10% per annum
12% per annum

Correct Answer: 10% per annum

Explanation:

Given

Rs. 5,000 lent for 2 years
Rs. 3,000 lent for 4 years
Total simple interest received = Rs. 2,200 at the same rate r.

Compute
Total SI = (5000 × r × 2)/100 + (3000 × r × 4)/100= r/100 × (10,000 + 12,000) = 220r220r = 2,200 ⇒ r = 10% per annum

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