Join ExamsbookAnswer : 3. "12%"
A person lends Rs. 1540 for five years and Rs. 1800 for four years. If he gets Rs. 1788 as interest on both amounts, what is the rate of interest ?5
Q: A person lends Rs. 1540 for five years and Rs. 1800 for four years. If he gets Rs. 1788 as interest on both amounts, what is the rate of interest ?
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Answer : 3. "12%"
Explanation :
Answer: C) 12% Explanation: Let the interest rate be r% We know that, S.I = PTR/100 => (1540 x 5 x r)/100 + (1800 x 4 x r)/100 = 1788 => r = 178800/14900 = 12%