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Arithmetic Aptitude :: Simple Interest

6. 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:

Answer: Option D

Explanation :

Let the rate be R% p.a.
Then, (5000 x R x 2)/100 + (3000 x R x 4)/100 = 2200.
=> 100R + 120R = 2200
=> R = 2200/220 = 10.
.'. Rate = 10%.

Asked In :: iGate

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