1. A person deposited 500 for 4 years and 600 for 3 years at the same rate of simple interest in a bank. Altogether she received 190 as interest. The rate of simple interest per annum was
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By: anil on 05 May 2019 02.25 am
Let rate of interest = $$r\%$$ Simple interest = $$frac{P imes R imes T}{100}$$ According to ques, => $$(frac{500 imes r imes4}{100})+(frac{600 imes r imes3}{100})=190$$ = $$20r+18r=190$$ => $$r=frac{190}{38}=5\%$$ => Ans - (C)
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