Question
A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:
Answer: Option D
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Let the rate be R% p.a.
Then , \(\left(\frac{5000\times R\times2}{100}\right) + \left(\frac{3000\times R\times4}{100}\right) = 2200\)
100R + 120R = 2200
R = \(\left(\frac{2200}{220}\right) = 10\)
Rate = 10%.
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