Multiple choice

A lent 5000 to B for 2 years and 3000 to C for 4 years at simple interest at the same rate of interest. He received 2200 in all from both of them as interest. The rate of interest per annum was

  1. 5%

  2. 7%

  3. 8%

  4. 10%
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D Correct answer
Explanation

SI = P*R*T/100. Total interest = (5000*R*2)/100 + (3000*R*4)/100 = 100R + 120R = 220R. Given 220R = 2200, so R = 10%.

AI explanation

Using the simple interest formula, the total interest is (5000 multiplied by R multiplied by 2) divided by 100 plus (3000 multiplied by R multiplied by 4) divided by 100, which equals 2200. This simplifies to 100R plus 120R = 2200, or 220R = 2200. Solving for the rate gives R = 10, so the rate of interest is 10%.

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