Multiple choice

Seth Ankoosh Gawdekar borrows a sum of Rs. 1200 at the beginning of a year. After 4 months, Rs.1800 more is borrowed at a rate of interest double the previous one. At the end of the year, the sum of interest on both the loans is Rs. 216. What is the first rate of interest per annum?

  1. 9%

  2. 6%

  3. 8%

  4. 12%
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B Correct answer
Explanation

Let rate be R. Interest 1 = (1200 * R * 1) / 100 = 12R. Interest 2 = (1800 * 2R * 8/12) / 100 = 24R. Total interest = 36R = 216. R = 6%.

AI explanation

Let the first rate of interest be R percent per annum; then the second rate is 2R percent. The interest on the first loan is (1200 * R * 1) / 100, and the interest on the second loan taken for 8 months is (1800 * 2R * 8) / (100 * 12). Their sum is 12R + 24R = 216, so 36R = 216. Solving this gives the first rate of interest as 6 percent.

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