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    Question

    Shankar borrowed Rs. 7,200 at simple interest and

    repaid an amount of Rs. 9,504 after 7 years. If the interest rate p.a charged for first 4 years was 5% p.a., find the interest rate p.a. charged for the last 3 years.
    A 2% Correct Answer Incorrect Answer
    B 4% Correct Answer Incorrect Answer
    C 6% Correct Answer Incorrect Answer
    D 8% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    S.I. = 9,504 тАУ 7,200 = Rs. 2,304 тИ┤ ┬а(7200 ┬а├Ч 4 ┬а├Ч 5)/100 ┬а+ ┬а(7200 ├Ч 3 ┬а├Ч R)/100 ┬а= 2,304 тЯ╣ 1440 + 216 R = 2,304тЯ╣ 216R = 864 тИ┤ R = 4% p.a.

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