Simple & Compound Interest · Question 29 · Hard
Simple & Compound Interest question 29
Ananya borrowed ₹8,000 for 3 years at r% per annum simple interest and ₹6,000 for 2 years at (r + 2)% per annum simple interest. If she paid a total interest of ₹3,840, what is r?
- 8
- 12
- 9
- 10
Answer and explanation
Answer: D. 10
Explanation: Interest = 8000 × 3r/100 + 6000 × 2(r + 2)/100 = 240r + 120r + 240 = 360r + 240. Setting 360r + 240 = 3840 gives r = 10.
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