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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 all from both of them as interest. The rate of interest per annum is:

  • a)
    5%

  • b)
    10%

  • c)
    7%

  • d)
    8%

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 simp...
Let the rate of interest be x% per annum.

For the loan to B:

Simple interest = (5000)(2)(x)/100 = 100x

For the loan to C:

Simple interest = (3000)(4)(x)/100 = 120x

Total simple interest received = 100x + 120x = 220x

Given, 220x = 2200

x = 10

Therefore, the rate of interest per annum is 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 simp...
Given:
- Principal lent to B = Rs. 5000
- Time period for which B borrowed the money = 2 years
- Principal lent to C = Rs. 3000
- Time period for which C borrowed the money = 4 years
- Total interest received from both = Rs. 2200

To find: Rate of interest per annum

Formula:
Simple Interest = (P * T * R) / 100
where P is the principal, T is the time period and R is the rate of interest.

Approach:
1. Calculate the interest received from B and C separately using the above formula.
2. Add the interest received from B and C to get the total interest.
3. Use the equation formed by equating the total interest to the sum of interest received from B and C.
4. Solve the equation to get the rate of interest per annum.

Calculation:
Interest received from B = (5000 * 2 * R) / 100 = 100R
Interest received from C = (3000 * 4 * R) / 100 = 120R
Total interest received = 100R + 120R = 2200
220R = 2200
R = 10

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

Note: The 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 all from both of them as interest. The rate of interest per annum is:a)5%b)10%c)7%d)8%Correct answer is option 'B'. Can you explain this answer?
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