Simple Interest Practice Test 3

Question : 30 of 40

Marks: +1, -0

At a certain rate of simple interest, A lent Rs 9,000 to B for 2 years and Rs 1,400 to C for 6 years. He received Rs 1,320 as interest from both of them together. What was the rate of interest per annum at which the sum was lent out?

6%
6.5%
5%
5.5%
7%

Validate

Solution:

Let rate = R%
So,

SI={P×R×T}/100

1320=({9000×R×2}/100)+({1400×R×6}/100)

⇒1320=18000/100R+8400/100R

1,320 = 3,264 R

5 % = R

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