Question

Mr. Mathur invested Rs. 40,000 with Bank A for 2 years

Q: Answer-Mr. Mathur invested Rs. 40,000 with Bank A for 2 years and Rs. 10,000 with Bank B for 4 years at sim...

Let the rate of interest r per annum. According to the question, 40000 times 2 times r100 10000 times 4 times r100 6,000 800 r 400 r 6,000 1200r 6,000 r 5 p.a.

and Rs. 10,000 with Bank B for 4 years at simple interest and earned Rs. 6,000 as interest. Find the interest rate p.a. if both the banks lend money at the same rate of interest.

A 4%

B 4.5%

C 5%

D 5.5%

E None of these

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