ibps-rrb-os1 2024 · Question 127 of 270

Naina lent Rs. 9,800 to Mohini for 4 years and Rs. 8,800 to Mitali for 6 years on simple interest at the same rate of interest and received Rs. 11,040 in all from both as interest. The rate of interest per annum is.

Interest

A12%Correct
B8%
C4%
D10%
ENone of these

Answer: A. 12%

Explanation

Let the rate of interest r % per annum According to the question, (9800 × 4 × r)/100 + (8800 × 6 × r)/100 = 11,040 ⇒ 392r + 528r = 11,040 ⇒ 920 r = 11,040 ⇒ r = 11040/920 = 12%

Source: IBPS RRB PO Prelims 2024 Memory Based Paper Shift 2 — Answer Key & Detailed Solutions (memory-based compilation, ixamBee) · memory-based

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