Mohan lent ₹20000 to Rakesh for 5.5 years & ₹25000 to Dinesh for 4 years & receives a total sum of ₹19950 as interest. Find the rate per cent per annum, if it is same in both the cases .

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Solution

I = PRT/100
Let Rate of Interest = X
Interest in Case of Rakesh = (20000 x 5.5 x X)/100
Interest in Case of Dinesh = (25000 x 4 x X)/100
Total Interest Recieved = 19950 = (20000 x 5.5 x X)/100 + (25000 x 4 x X)/100 =(210,000 x X)/100
=> 19950 = 2100X
=> X = 9.5 %

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Mohan lent ₹20000 to Rakesh for 5.5 years & ₹25000 to Dinesh for 4 years & receives a total sum of ₹19950 as interest. Find the rate per cent per annum, if it is same in both the cases .

I = PRT/100 Let Rate of Interest = X Interest in Case of Rakesh = (20000 x 5.5 x X)/100 Interest in Case of Dinesh = (25000 x 4 x X)/100 Total Interest Recieved = 19950 = (20000 x 5.5 x X)/100 + (25000 x 4 x X)/100 =(210,000 x X)/100 => 19950 = 2100X => X = 9.5 %

I = PRT/100
Let Rate of Interest = X
Interest in Case of Rakesh = (20000 x 5.5 x X)/100
Interest in Case of Dinesh = (25000 x 4 x X)/100
Total Interest Recieved = 19950 = (20000 x 5.5 x X)/100 + (25000 x 4 x X)/100 =(210,000 x X)/100
=> 19950 = 2100X
=> X = 9.5 %