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Question

Anand deposited Rs. 6000 on simple interest. He withdraw Rs. 4000 and its interest from that amount after 2 years. After next 3 years, he withdraw the rest of the amount and its interest accured till that time, in all the obtained Rs. 900 as interest. The rate of interest per annum was

A
3%
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B
4%
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C
5%
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D
6%
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Solution

The correct option is C 5%
Let the rate of interest p.a. be x%.
Then, interest on Rs. 6000 after 2 years = 2×6000×x100=120x=I1
After withdrawing Rs. 4000, Rs. 2000 remained in the account.
Interest on Rs. 2000 for 3 years = 3×2000×x100=60x=I2
Given, I1+I2=900
120x+60x=900
180x=900
x=5%

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