Simple Interest Practice Test 1

Question : 28 of 40

Marks: +1, -0

Madhavi lent Rs. 5000 to Kamla for 5 years and Rs. 3000 to Vimla for 4 years. Find the rate of interest, if Madhavi gets an interest of Rs. 600 in the end.

1.62%
2.5%
3%
4%

Validate

Solution:

{5000×R×5}/100+{3000×R×4}/100=600

⇒ 250 R + 120 R = 600

⇒ 370R = 600

∴ R =600/370 = 1.62%

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