What will be the Interest Rate of A? If

A and B borrowed Rs.3000 and Rs.3200 respectively at the same rate of interest for 2.5 years. If B paid Rs. 40 more interest than A, find the rate of interest:

  1. 8%
  2. 5%
  3. 6%
  4. 7%
Monis Rasool Professor Asked on 27th June 2015 in Maths.
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  • 1 Answer(s)

    Answer: (1) 8%
    Explanation:-

    Let be the rate of interest = R%
    According to the question,
    3,200 x R x 5/2 x 100 – 3,000 x R x 5/2 x100 = 40
    = 80R – 75R = 40
    = 5R = 40
    R = 8%

    Hence, the answer is (1) 8%.

    Anurag Mishra Professor Answered on 28th June 2015.
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