Ankita borrows Rs.7000 at simple Interest from a lende. At the end of 3 years.she again borrows ₹3000 and settled that amount after paying ₹4615 as interest after 8 years from the time she made the first borrowing. What is the rate of interest?

Options

A. 0.055
B. 0.095
C. 0.075
D. 0.065

Answer

D

Explanation

SI for Rs. 7000 for 8 years ` = ( 7000 xx r xx 8)/ 100`
Again borrowed = 3000
` SI = ( 3000 xx r xx 5)/ 100`
` " Total interest " = ( 7000 xx r xx 8)/ 100 + ( 3000 xx r xx 5)/100 = 4615 `
560r + 150r = 4615
710 r = 4615
r = 6.5 %