Multiple Choice Questions on Pooja lent Rs 8000 to Ramesh for 4 years and Rs 5000 to Harsh for 2 years on simple interest and at ........... for CDS Exam Preparation

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Multiple Choice Questions

Pooja lent Rs 8000 to Ramesh for 4 years and Rs 5000 to Harsh for 2 years on simple interest and at ...........

Quantitative Aptitude (CDS) Compound Interest
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    Pooja lent Rs.8000 to Ramesh for 4 years and Rs.5000 to Harsh for 2 years on simple interest and at the same rate of interest. If Pooja received Rs.3360 as total interest from both, what is the rate of interest?

     

    8%

     

    Correct Answer

    10%

     

    Incorrect Answer

    12%

    Incorrect Answer

    14.5%  

    Incorrect Answer
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    Explanation:

    SI = PNR/100
    [(8000 × R × 4)/100] + [(5000 × R × 2)/100] = 3360
    320R + 100R = 2400
    420R = 3360
    R = 3360/420
    R = 8%

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