Abdullah, the money lender, lends Rs. 2000 to Fahim, a cherry farmer, both residents of the village Baramullah. The rate of interest for the 1^st year is r%, for the 2^nd year is (r + 2)%, for the 3^rd year is (r + 4)% so on and so forth. At the end of 5^th year, the total simple interest incurred is Rs. 1500. What is the value of r?

Using the simple interest formula for successive years with varying rates, the total interest equals Principal multiplied by the sum of the rates divided by 100. The sum of the rates for the five years is r plus (r plus 2) plus (r plus 4) plus (r plus 6) plus (r plus 8), which simplifies to 5r plus 20. We set up the equation 1500 equals 2000 multiplied by (5r plus 20) divided by 100, which simplifies to 5r plus 20 equals 75. Solving for r gives 5r equals 55, so r is 11.

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