A man invested Rs. 5000 at some rate of simple interest and Rs. 4000 at 1 percen

Question

A man invested Rs. 5000 at some rate of simple interest and Rs. 4000 at 1 percent higher rate of interest. If the interest in both the cases after 4 years is same, the rate of interest in the former case is

Options:

A . 4% p.a.

B . 5% p.a.

C . $$6\frac{1}{4}$$ % p.a.

D . $$8\frac{1}{3}$$ % p.a.

Answer: Option A

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