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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 total from both as interest. The rate of interest per annum is.
  • a)
    11.5%
  • b)
    10%
  • c)
    17%
  • d)
    17.12%
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on sim...
Let the rate % = R
According to the question
100R + 120 R = 2200
2200 R = 2200
R = 10%
Hence required rate % = 10%
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Most Upvoted Answer
A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on sim...
Let's assume that the rate of interest per annum is 'r'.

For the first loan of Rs. 5000 to B for 2 years, the simple interest can be calculated using the formula:

Simple Interest = (Principal * Rate * Time) / 100

So, for B, the interest earned is:

Interest for B = (5000 * r * 2) / 100 = 100r

For the second loan of Rs. 3000 to C for 4 years, the simple interest can be calculated using the same formula:

Interest for C = (3000 * r * 4) / 100 = 120r

Given that the total interest received from both loans is Rs. 2200, we can write the equation:

Interest for B + Interest for C = 2200

100r + 120r = 2200
220r = 2200
r = 2200 / 220
r = 10

Therefore, the rate of interest per annum is 10%.

Hence, the correct answer is option 'B'.
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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 total from both as interest. The rate of interest per annum is.a)11.5%b)10%c)17%d)17.12%Correct answer is option 'B'. Can you explain this answer?
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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 total from both as interest. The rate of interest per annum is.a)11.5%b)10%c)17%d)17.12%Correct answer is option 'B'. Can you explain this answer? for GATE 2024 is part of GATE preparation. The Question and answers have been prepared according to the GATE exam syllabus. Information about 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 total from both as interest. The rate of interest per annum is.a)11.5%b)10%c)17%d)17.12%Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for GATE 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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 total from both as interest. The rate of interest per annum is.a)11.5%b)10%c)17%d)17.12%Correct answer is option 'B'. Can you explain this answer?.
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