Question

Raju lent Rs.400 to Ajay for 2 years and Rs.100 to manoj for 4 years and received from both Rs.60 as collective interest. Find the rate of interest, Simple interest being calculated.

• A. 5%
• B. 6%
• C. 8%
• D. 9%

Answer 1

Answer:

A. 5%

According to the question (R x 400 x 2)/100 + (R x 100 x 4)/100 = 60 12R = 60 R = 60/12 = 5%