Simple Interest Practice Test 2

Question : 18 of 40

Marks: +1, -0

A man lends Rs. 500 for 4 years and Rs. 600 for 3 years at a certain rate of simple interest. If he gets total Rs. 190 as interest in both cases, the rate per cent per annum is :

Validate

Solution:

Here,

{500×R×4}/100+{600×R×3}/100=190

⇒38R=190

∴R=190/38=5%

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