Question

A man lends $Rs.350$ for $6$ years and $Rs.540$ for $2\frac{1}{2}$ years to two person and receives in all $Rs.85$ as interest. Find the rate per cent, if simple interest be reckoned

• A. $7$%
• B. $\frac{170}{69}$%
• C. $3.33$%
• D. $3$%

Answer 1

The correct option is B $\frac{170}{69}$%

Interest from $1^{st}$ person is

$S{I}_1=\frac{P_1{R}_1{T}_1}{100}=\frac{350\times 6\times R}{100}=21R$

Interest from $2^{nd}$ person is

$S{I}_2=\frac{P_2{R}_2{T}_2}{100}=\frac{540\times 2.5\times R}{100}=13.5R$

Now, according to question:

$S{I}_1+S{I}_2=85$

$\Rightarrow 21R+13.5R=85$

$\Rightarrow 34.5R=85$

$\Rightarrow R=\frac{85}{34.5}=\frac{170}{69}\%$