The total amount of interest received on two deposits of Rs. 5,000 for 4 years and Rs 4,000 for 5 years, made at the same simple rate of interest per amount was Rs. 2,400. Find the rate of interest per year.
1
4%
2
7%
3
6%
4
8%
The total amount of interest received on two deposits of Rs. 5,000 for 4 years and Rs 4,000 for 5 years, made at the same simple rate of interest per amount was Rs. 2,400. Find the rate of interest per year.