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Ram lent Rs. 6,000/- to Shiva for 3 year...

Ram lent Rs. 6,000/- to Shiva for 3 years and Rs. 8,000/- to Krishna for 5 years at the same rate of simple interest per annum. He got a total interest of Rs. 5,220 from both. Find the rate of interest per annum.

A

A)`6%`

B

B)`7%`

C

C)`8%`

D

D)`9%`

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, we will use the formula for simple interest and set up an equation based on the information given. ### Step 1: Understand the Simple Interest Formula The formula for simple interest (SI) is: \[ \text{SI} = \frac{P \times R \times T}{100} \] where: - \( P \) = Principal amount (the initial amount of money) - \( R \) = Rate of interest per annum - \( T \) = Time in years ### Step 2: Set Up the Equation for Shiva Ram lent Rs. 6,000 to Shiva for 3 years. Using the simple interest formula, the interest from Shiva can be expressed as: \[ \text{SI}_{\text{Shiva}} = \frac{6000 \times R \times 3}{100} \] ### Step 3: Set Up the Equation for Krishna Ram lent Rs. 8,000 to Krishna for 5 years. The interest from Krishna can be expressed as: \[ \text{SI}_{\text{Krishna}} = \frac{8000 \times R \times 5}{100} \] ### Step 4: Combine the Interests According to the problem, the total interest from both loans is Rs. 5,220. Therefore, we can set up the equation: \[ \frac{6000 \times R \times 3}{100} + \frac{8000 \times R \times 5}{100} = 5220 \] ### Step 5: Simplify the Equation We can simplify the left side: 1. Calculate the interest from Shiva: \[ \frac{6000 \times R \times 3}{100} = \frac{18000R}{100} = 180R \] 2. Calculate the interest from Krishna: \[ \frac{8000 \times R \times 5}{100} = \frac{40000R}{100} = 400R \] 3. Combine both: \[ 180R + 400R = 580R \] Now, the equation becomes: \[ 580R = 5220 \] ### Step 6: Solve for R To find the rate of interest \( R \), divide both sides by 580: \[ R = \frac{5220}{580} \] ### Step 7: Calculate R Calculating the value: \[ R = 9 \] ### Conclusion The rate of interest per annum is **9%**.
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