Aptitude - Simple Interest - Discussion

Discussion :: Simple Interest - General Questions (Q.No.8)

8.

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%

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%.

 Priya said: (Feb 6, 2011) How do you know when to use the right formulas?

 Thiru said: (Apr 5, 2011) Hey its the formula of CP.

 Kuldeep Singh said: (Apr 18, 2011) From where this 120R came. Please some one tell me.

 Mahesh Kumar Sanka said: (May 26, 2011) @Kuldeep Singh (3000*r*4)/100=120R once check it out. @Thiru This is the formulae of Simple interest only (i=(p*t*r)/100).

 Vineesh said: (Sep 12, 2011) @priya there is only one formula for simple interest. You can easily use it always just by interchanging terms.

 Shrikanth Duppada said: (May 3, 2013) Lets assume that rate % = x. (If you have taken 5000 on 1% then S.I per year = 50 Rs (1 Rs for 100 then 50 hundreds so 50x100(5000)=50 Rs, if 50 per single year so for 2 years it would be 100)(Similarly for 3000). Then S.I on 5000 for 2 years = 100x. Then S.I on 3n000 for 4 years = 120x. From the problem 100x+120x = 2200. Then 220x = 2200. x=10. I hope this is clear.

 Saji said: (Oct 17, 2013) @Srikanth, very good explanation. I expect such shortcut method from the discussion part keep doing the same.

 Arun said: (Nov 21, 2013) By Using SI = (PRT/100).

 Nishant said: (Jun 22, 2014) @Priya. r*5000*2/100 + r*3000*4/100 = 2200. And then take L.C.M. r*10000+r*12000 = 220000. 10000r+12000r = 220000. 22000r = 220000. r = 220000/22000. r =10.

 Priya Kuldeep said: (Oct 15, 2014) @Nishant. You are doing it in a lengthy manner.

 Monica said: (Oct 25, 2015) Let's solve through options, take option 10% Now, First, A to B. 10% of 5000 = 500. Time = 2 years. S.I = 500x2 = 1000.....I. Similarly, 10% of 3000 = 300. Time = 4 years. S.I = 300x4 = 1200......II Adding I and II, Total S.I = 2200 (as given in question).

 Mohit said: (Feb 11, 2016) 2200/200, 220 how come?

 Anand J said: (Apr 11, 2016) In question A, B and C are given. I thought there were 3 members, I tried for 3 members. Then what is "A". Is A first person or sentence formation? Please explain.

 Likith said: (Aug 20, 2016) Guys, it easy. 5000-B-2yrs 3000-c-4yrs. The rate of interest same(data). Finally, the lender gets total 2200 as interest. (use some logic). Assume B pays x amount of interest, It means c pays x - 2200. x =(5000 * 2 * R)/100 (B DATA). X - 2200 = (3000 * 4 * R)/100 *C DATA. SOLVE ABOVE 2 EQUATIONS, YOU Will GET 10% RATE OF INTEREST.

 Kumar said: (Nov 30, 2016) 5000 * 2 = 10000 3000 * 4 = 12000 ------------------------ = 22000 R%= 2200 * 100/22000 * 1 = 10.

 Anil said: (Feb 10, 2017) Friends use backward method through options take 10%. 10% of 5000 is 500 (for 1 year) For 2 years 500*2 = 1000. 10% of 3000 is 300(for 1 year) For 4 years 300*4 = 1200. Add both interests 1000+1200 = 2200.

 Adil Shaikh said: (Sep 18, 2017) Hi, Thanks everyone for giving such good explanation.

 K. Haritha said: (Dec 17, 2017) 5000*2*r/100+3000*4*r/100=2200, 100r+120r=220r, 220r=2200, 10.

 Nagesh N said: (Aug 28, 2018) According to %change=(Difference/ initial value)*100. Similarly (5000-3000)=2000. ((2200-2000)/2000)*100=(200/2000)*100 = 10%.

 Francis said: (Nov 7, 2018) We subtract 5000-3000=2000. We get 2000, In this shows that si 2200 from both, So 2000*10% = 200+2000 = 2200. We can understand that 10 % will be the rate of interest.