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    Question

    Naina lent Rs. 9,800 to Mohini for 4 years and Rs. 8,800

    to Mitali for 6 years on simple interest at the same rate of interest and received Rs. 11,040 in all from both as interest. The rate of interest per annum is.
    A 12% 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, (9800 × 4 × r)/100 + (8800 × 6 × r)/100 = 11,040 ⇒ 392r + 528r = 11,040 ⇒ 920 r = 11,040 ⇒ r = 11040/920 = 12%

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