Multiple Choice Questions on Sujata lent Rs 5000 to Raman for 2 years and Rs 4000 to Keshav for 4 years on simple interest ........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Sujata lent Rs 5000 to Raman for 2 years and Rs 4000 to Keshav for 4 years on simple interest ...........

Quantitative Aptitude ( CCS) Simple Interest
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     Sujata lent Rs. 5000 to Raman for 2 years and Rs. 4000 to Keshav for 4 years on simple interest at the same rate of interest and received Rs. 2600 in all from both of them as interest. The rate of interest per annum is:

     10%

    Correct Answer

     12%

    Incorrect Answer

     9%

    Incorrect Answer

     11%

    Incorrect Answer
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    Explanation:

     Let the rate be R% p.a.
    Then, ((5000 × R ×2)/100)+ ((4000 ×R ×4)/100)=2600
    100 R + 160 R = 2600 ⇒ R = 2600/260 = 10
    ⇒ R = 10%

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