Simple Interest Q27

27.	A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:
	A. 5% B. 7% C. 7 1 % 8 D. 10%

Answer: Option D

Explanation:

Let the rate be R% p.a.

Then,		5000 x R x 2		+		3000 x R x 4		= 2200.
		100				100

 100R + 120R = 2200

R =		2200		= 10.
		220

                     Rate = 10%.