Multiple choice

Ajay lent Rs. 600 to Bharat for 2 years and Rs. 150 to Chetan for 4 years at the same rate of simple interest and received altogether from both Rs. 90 as interest. Find the rate.

  1. 2%

  2. 4%

  3. 5%

  4. 7%

  5. 6%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple interest I = PRT / 100. Total interest = (600 * R * 2 / 100) + (150 * R * 4 / 100) = 90. 12R + 6R = 90, 18R = 90, R = 5%.

AI explanation

Using the simple interest formula, the total interest received is the sum of the interest from both loans, so 90 equals 600 multiplied by 2 multiplied by the rate divided by 100, plus 150 multiplied by 4 multiplied by the rate divided by 100. This simplifies to 90 equals 12 times the rate plus 6 times the rate, which equals 18 times the rate. Solving for the rate gives 90 divided by 18, resulting in a rate of 5 percent.

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