A lent Rs. 600 to B for 2 years and Rs. 150 to C for 4 years and received altogether from both Rs. 90 as simple interest. The rate of interest is?

Question

Accepted Answer

Let rate = R% per annum. Then, [(600 x R x 2)/ 100 ] + [(150 x R x 4 ) / 100] = 90 ⇒ 18R = 90 ∴ R = 5%

Discussion & Comments