Akul lent Rs. 6000 to Bakul for 2 years and Rs. 1500 to camlin for 4 years
Posted on 20-04-2023
Ques - Akul lent Rs. 6000 to Bakul for 2 years and Rs. 1500 to camlin for 4 years and received altogether from both Rs. 900 as simple interest. The rate of interest is :
(a) 4%
(b) 8%
(c) 10%
(d) 5%
Solution -
Given,
P1 = 6000
P2 = 1500
T1 = 2 years
T2 = 4 years
Total S.I. = 900
R = ?
Now,
S.I. = (P1×R×T1) / 100 + (P2×R×T2) / 100
900 = (6000 × R × 2 ) / 100 + (1500 × R × 4) / 100
900 × 100 = 12000R + 6000R
90000 = 18000R
R = 90000/18000
R = 5
Therefore,
The rate of interest is 5%.
Hence,
The correct answer is option (d) 5%.
Thank You