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If simple interest on Rs. 600 for 4 years and on Rs. 600 for 2 years combined together is Rs.180, find the rate of interest.
Answer & Solution
Correct Answer:
Option
B
$$\eqalign{
& {\text{Let the rate of be R}}\% {\text{p}}{\text{.a}}{\text{.}} \cr
& Then, \cr
& {\frac{{600 \times R \times 4}}{{100}}} + {\frac{{600 \times R \times 2}}{{100}}} = 180 \cr
& \Rightarrow 2400{\text{R}} + 1200{\text{R}} = 18000 \cr
& \Rightarrow 3600{\text{R}} = 18000 \cr
& \Rightarrow {\text{R}} = 5\% \cr} $$
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