A person invested a sum of `10,500 at x% per annum at simple interest and a sum of `13,500 at (x + 2)% p.a. at simple interest. If the total interest earned on both the investements for 3 years is `7,650, then the rate of interest on the first investement is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 9.5%
| Understanding | Application |
| Tricks |
We solve with the option take first 9.5 = (10,500 × 9.5 × 3)/100 + {13,500 × (9.5 + 2) × 3}/100 = 2992.5 + 4657.5 = 7650 |
| Hence | x% = 9.5% |