Vithya gave Rs.20000/- to Priya for 5 years and Rs.30000/- to Vijay for 2 years. If the rate of interests is the same and she received Rs.12800- as SI from both. What is the rate of interest?a)8%b)7%c)9%d)11%e)None of theseCorrect answer is option 'A'. Can you explain this answer?

Question

Answer

Let's solve this problem step by step:

Step 1: Find the Simple Interest for the amount given to Priya.
Principal = Rs. 20000/-
Time = 5 years
Simple Interest = Rs. 12800/-

The formula for calculating Simple Interest is:
Simple Interest = (Principal * Rate * Time) / 100

Substituting the given values into the formula, we can find the rate:
12800 = (20000 * Rate * 5) / 100
Simplifying the equation, we get:
Rate = (12800 * 100) / (20000 * 5)
Rate = 64

So, the rate of interest for the amount given to Priya is 64%.

Step 2: Find the Simple Interest for the amount given to Vijay.
Principal = Rs. 30000/-
Time = 2 years
Simple Interest = Rs. 12800/-

Using the same formula as above, we can find the rate:
12800 = (30000 * Rate * 2) / 100
Simplifying the equation, we get:
Rate = (12800 * 100) / (30000 * 2)
Rate = 42.67

So, the rate of interest for the amount given to Vijay is approximately 42.67%.

Step 3: Comparing the rates
The rate of interest for the amount given to Priya is 64% and the rate of interest for the amount given to Vijay is 42.67%. Since the rate of interest is the same for both, this is not possible.

Hence, there seems to be an error in the given data or calculations. The correct answer cannot be determined with the given information.

Therefore, the correct answer is e) None of these.

Answer

8%

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