Question

Vishal lent Rs. 1,500 to Sandeep for 4 years and Rs. 6,000 to Deepak for 2 years. If he receives Rs. 900 assimple interest altogether, the rate of interest is

• A. 5%
• B. $5\frac{1}{2}$%
• C. 6%
• D. $4\frac{1}{2}$%

Answer 1

The correct option is A 5%

Let R be the rate of interest. Simple interest to the money lent to Sandeep is
$SI=\frac{1,500\times 4\times R}{100}$
Simple interest to the money lent to Deepak is

$SI=\frac{6000\times 2\times R}{100}$

Given $\frac{1,500\times 4\times R}{100}+\frac{600\times 2\times R}{100}=900$
or $60R+120R=900$ or $180R=900$ or $R=5$%