Practicing Success
A person invested a sum of Rs. 10,500 at x% per annum at simple interest and a sum of Rs. 13,500 at (x + 2)% p.a. at simple interest. If the total interest earned on both the investments for 3 years is Rs. 7,650, then the rate of interest on the first investment is: |
5.5% 6.5% 9.5% 10.5% |
9.5% |
We know, SI = prt/100 According to the question (10500 × x × 3)/100 + [13500 × (x + 2) × 3]/100 315x + 405x + 810 = 7650 720x = 7650 – 810 = 6840 x = 6840/720 = 9.5% |