• Question

      Naina lent Rs. 10,000 to Mohini for 4 years and Rs. 15,000 to Mitali for 6 years on simple interest at the same rate of interest and received Rs. 2,600 in all from both as interest. The rate of interest per annum is.

      A 2% Correct Answer Incorrect Answer
      B 8% Correct Answer Incorrect Answer
      C 4% Correct Answer Incorrect Answer
      D 10% Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Let the rate of interest r % per annum According to the question, (10000 × 4 × r)/100 + (15000 × 6 × r)/100 = 2,600 ⇒ 400r + 900r = 2,600 ⇒ 1300 r = 2,600 ⇒ r = 2%

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