Multiple choice

A person lent Rs. 10,000 to B for 3 years and Rs. 6000 to C for 4 years on simple interest at same rate of interest and received Rs. 5400 in all from both of them as interest. What is the rate of interest (in %)?

  1. 10

  2. 12.5

  3. 15

  4. 20
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A Correct answer
Explanation

Interest = PRT/100. 5400 = (10000*R*3)/100 + (6000*R*4)/100. 5400 = 300R + 240R = 540R. R = 5400/540 = 10%.

AI explanation

Using the simple interest formula for both loans combined, the equation is (10000 * R * 3) / 100 + (6000 * R * 4) / 100 = 5400. This simplifies to 300R + 240R = 5400, yielding 540R = 5400. Solving for R gives a rate of interest of 10 percent.

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