Question
A person invested a sum of Rs. 9000 at r% per annum at simple interest and a sum of Rs. 13500 at (r-4)% at simple interest. If total interest earned on both the investments for 5 years is Rs. 9337.50, then the rate of interest on the first investment is:
Solution
As we know, SI = Prt/100 According ot the question (9000 × r × 5)/100 + [13500 × (r – 4) × 5]/100 = 9337.50 450r + 675r – 2700 = 9337.50 1125r = 9337.50 + 2700 r = 12037.5/1125 ∴ r = 10.7
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