Question
Mr. Mathur invested Rs. 40,000 with Bank A for 2 years
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.Solution
Let the rate of interest r % per annum. According to the question, (40000 × 2 × r)/100 + (10000 × 4 × r)/100 = 6,000 ⟹ 800 r + 400 r = 6,000 ⟹ 1200r = 6,000 ⟹ r = 5% p.a.
More Simple and compound interest Questions
What will come in place of the question mark (?) in the following series?
75, 219, 388, ?, 809, 106510296/72 + 3040 = (? × 4) + 1395
4, 12, 36, 108, ?, 396
What value should come in the place of (?) in the following number series?
192, 96, 96, 144, ?, 7205 6 15 40 89 170 ?
...What will come in place of the question mark (?) in the following number series?
21, 42, 67, 96, ?, 166
18, 34, 70, 134, ?, 378
60, 120, ?, 160, 32, 192
7, 176, ?, 378, 427, 452
...4, 9, 25, ?, 121, 169
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