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A lent 5000 to B for 2 years and 3000 to C for 4 years on simple interest at the same rate of interest and received 2200 in all from both as interest. The rate of interest per annum is
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- 7%
- 5%
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7 1 % 8 - 10%
- 7%
Correct Option: D
Here , P1 = ₹ 5000 , P2 = ₹ 3000 , T1 = 2 years , T2 = 4 years and SI = ₹ 2200
Let the rate of interest per annum be r% .
According to the question,
⇒ | + | = 2200 | ||
100 | 100 |
⇒ 100r + 120r = 2200
⇒ 220 r = 2200
⇒ r = 2200 ÷ 220 = 10%