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Anand deposited Rs 6000 on simple interest. He with- draw Rs 4000 and its interest from that amount after 2 years. After next 3 years, he withdraw the rest of the amount and its interest accrued till that time. In all he obtained Rs 900 as interest. The rate of interest per annum was 

(a) 3% 

(b) 4% 

(c) 5% 

(d) 6%

1 Answer

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Best answer

(c) 5%.

Let the rate of interest p.a. be x % 

Then, interest on Rs 6000 after 2 years

\(\frac{2\times6000\times{x}}{100}\) = 120x = I1

After withdrawing Rs 4000, Rs 2000 remained in the account.

∴ Interest on Rs 2000 for 3 years = \(\frac{3\times2000\times{x}}{100}\) = 60x = I2 .

Given, I1 + I2 = 900

⇒ 120x + 60x = 900 ⇒ 180x = 900 ⇒ x = 5%.

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