Two equal sums were lent at simple interest for $4$ years and for $3$ years respectively. The rate of interest in the latter case was $3 \%$ higher than that of the former case,but the amount in each was $Rs. 1088$. Find the rate of interest (in $\%$) of the former case?

  • A
    $7$
  • B
    $9$
  • C
    $11$
  • D
    $13$

Explore More

Similar Questions

The difference between the interest received from two different banks on $₹ 5,000$ for $2$ $years$ is $₹ 25$. The difference between their rates is (in $\%$):

Asmita invests an amount of $Rs. 9535$ at the rate of $4\%$ per annum to obtain a total amount of $Rs. 11442$ on simple interest after a certain period. For how many years did she invest the amount to obtain the total sum?

$A$ man buys a watch for ₹ $1950$ in cash and sells it for ₹ $2200$ at a credit of $1$ $year$. If the rate of interest is $10 \%$ $p.a.$,what is his profit or loss?

Mr. Thomas invested an amount of $Rs. 13,900$ divided in two different schemes $A$ and $B$ at the simple interest rate of $14 \%$ $p.a.$ and $11 \%$ $p.a.$ respectively. If the total amount of simple interest earned in $2$ $years$ be $Rs. 3508$,what was the amount (in $Rs.$) invested in Scheme $B$?

$₹ 800$ becomes $₹ 956$ in $3$ years at a certain rate of simple interest. If the rate of interest is increased by $4 \%$,what amount (in $₹$) will $₹ 800$ become in $3$ years?

Difficult
View Solution

Vedclass Products

For Students

Vedclass Test Series

Mock tests in real JEE/NEET style with performance analysis. 5-day free trial.

Start Free Trial
For Teachers

Exam Paper Generator

Generate Set A/B/C/D exam papers from 7.5L+ questions in 2 minutes. 3 chapters free.

Try Free
For Institutes

Online Exam Module

Live online exams with unlimited students, 360° analytics & white-label branding.

See Demo