Ankita borrows Rs 7000 at simple Interest from a lender At the end of 3 years she again borrows Rs 3...........

Quantitative Aptitude ( CCS) Simple Interest

Ankita borrows Rs.7000 at simple Interest from a lender. At the end of 3 years, she again borrows Rs.3000 and settled that amount after paying Rs.4615 as interest after 8 years from the time she made the first borrowing. what is the rate of interest?

5.5%

9.5%

7.5%

6.5%

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Explanation:

SI for Rs.7000 for 8 years= (7000*r*8)/100
Again borrowed=3000
SI = (3000*r*5)/100
Total interest= [(7000*r*8)/100] + [(3000*r*5)/100] = 4615
560r + 150r = 4615
710r = 4615
r = 6.5%