Question

Raju lent Rs. 400 to Ajay for 2 years, and Rs. 100 to Manoj for 4 years and received together from both Rs. 60 as interest. Find the rate of interest, simple interest being calculated.

• A. 5%
• B. 6%
• C. 8%
• D. 9%

Answer 1

The correct option is A 5%

$\frac{P_1{R}_1{T}_1}{100}+\frac{P_2{R}_2{T}_2}{100}=60$

$=\frac{400\times 2\times R}{100}+\frac{100\times 4\times R}{100}=60$

12R = 60, R= 5%