Multiple choice

Deepak lent Rs. 8800 to Jaichand for 13 years and Rs. 5500 to kapil for 12 years on simple interest at the same rate of interest and received Rs. 14,432 in all from both of them as interest. The rate of interest per annum is ______.

  1. 8.5%

  2. 9%

  3. 9.5%

  4. 8%
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Interest = P * R * T / 100. 14432 = (8800 * R * 13 / 100) + (5500 * R * 12 / 100). 14432 = 1144R + 660R = 1804R. R = 14432 / 1804 = 8%.

AI explanation

Using the simple interest formula SI = (P * R * T) / 100, we set up the equation for the total interest received: (8800 * R * 13) / 100 + (5500 * R * 12) / 100 = 14432. Factoring out the rate R gives 1144R + 660R = 14432, which simplifies to 1804R = 14432. Solving for R gives a rate of 8 percent per annum.

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