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Question

Raju lent Rs. 400 to Rakesh for 2 years and Rs. 100 to Rohan for 4 years and received from both Rs. 60 as collective interest. Find the rate of simple interest being calculated.


Solution

The correct option is A
According to the question
R×400×2100+R×100×4100=60
12R=60R=6012=5%

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