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A lent Rs. 6500 to B for 2 years and Rs....

A lent Rs. 6500 to B for 2 years and Rs. 8000 to C for 4 years at the same rate of simple interset and earned Rs. 4500 as interset from both amounts. The rate of interset per annum is :

A

0.08

B

0.05

C

0.1

D

0.07

Text Solution

AI Generated Solution

The correct Answer is:
To find the rate of interest per annum, we can follow these steps: ### Step 1: Write the formula for Simple Interest The formula for Simple Interest (SI) is given by: \[ \text{SI} = \frac{P \times R \times T}{100} \] where: - \( P \) = Principal amount - \( R \) = Rate of interest per annum - \( T \) = Time in years ### Step 2: Calculate Simple Interest for both loans 1. For the amount lent to B: - Principal \( P_1 = 6500 \) - Time \( T_1 = 2 \) years - Simple Interest \( SI_1 = \frac{6500 \times R \times 2}{100} = \frac{13000R}{100} = 130R \) 2. For the amount lent to C: - Principal \( P_2 = 8000 \) - Time \( T_2 = 4 \) years - Simple Interest \( SI_2 = \frac{8000 \times R \times 4}{100} = \frac{32000R}{100} = 320R \) ### Step 3: Set up the equation for total interest According to the problem, the total interest earned from both loans is Rs. 4500. Therefore, we can write: \[ SI_1 + SI_2 = 4500 \] Substituting the expressions for \( SI_1 \) and \( SI_2 \): \[ 130R + 320R = 4500 \] ### Step 4: Combine like terms Combine the terms on the left side: \[ 450R = 4500 \] ### Step 5: Solve for \( R \) To find \( R \), divide both sides by 450: \[ R = \frac{4500}{450} = 10 \] ### Step 6: Conclusion Thus, the rate of interest per annum is: \[ R = 10\% \] ---
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