A person deposited ₹400 for 2 years, ₹550 for

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A person deposited ₹400 for 2 years, ₹550 for 4 years and ₹1,200 for 6 years. He received the total simple interest of ₹1,020. The rate of interest per annum is

Let the rate of interest be R percent per annum.
As we know that ,

∴ SI =	P × T × R
	100

According to question ,
SI for 2 years + SI for 4 years + SI for 6 years
= Total SI

⇒	400 × 2 × R	+	550 × 4 × R	+	1200 × 6 × R	= 1020
	100		100		100

⇒ 8R + 22 R +72 R = 1020
⇒ 102R = 1020
⇒ 1020 ÷ 102 = 10%