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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 as interest. The rate of interest per annum is = ?
Answer & Solution
Correct Answer:
Option
D
$$\eqalign{
& {\text{Let the rate }}\% {\text{ = R}} \cr
& {\text{According to the question,}} \cr
& \frac{{5000 \times 2 \times {\text{R}}}}{{100}} + \frac{{3000 \times 4 \times {\text{R}}}}{{100}} = 2200 \cr
& \Rightarrow 100{\text{R}} + 120{\text{R}} = 2200 \cr
& \Rightarrow 220{\text{R}} = 2200 \cr
& \Rightarrow {\text{R}} = 10\% \cr
& {\text{Hence required rate}}\% \cr
& = 10\% \cr} $$
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