Simple Interest Practice Test 3

Question : 22 of 40

Marks: +1, -0

A borrowed Rs. 2500 at a certain rate of simple interest and Rs. 1500 at 3% higher rate of interest. If after 4 years the interest paid by him in both cases is Rs. 1140, the former rate of interest was :

5%
6%
$8 1/2%$
$5 1/2%$

Validate

Solution:

Here,

{2500×R×4}/100+{1500×(R+3)×4}/100=1140

⇒160R=960

∴R=960/160=6%

Go to Question:

Prev Question

Next Question