A Man lends Rs 1540 for five years and Rs 1800 for four years If he gets Rs 1788 as interest on both...........

Quantitative Aptitude ( CCS) Simple Interest

A Man lends Rs. 1540 for five years and Rs. 1800 for four years. If he gets Rs. 1788 as interest on both amounts, what is the rate of interest ?

10%

12%

15%

Let the interest rate be r%
We know that,
S.I = PTR/100
=> (1540 x 5 x r)/100 + (1800 x 4 x r)/100 = 1788
=> r = 178800/14900 = 12%

Hence, option 2 is the correct answer.

Submit Error