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CUET UG 2022 Applied Mathematics

Sitaram, a money lender lent a part of Rs. $200000$ to Shyam at simple interest $6%$ p.a. and the remaining to Sushil at $10%$ p.a. at simple interest.
Sitaram earned an annual interest income of Rs. $18000$.

What is the mean rate of interest?

Solution

Total principal = Rs. $200000$

Total annual interest earned = Rs. $18000$

Mean rate of interest:

$\text{Mean Rate}=\frac{\text{Total Interest}}{\text{Total Principal}}\times 100$

$=\frac{18000}{200000}\times 100$

$=0.09\times 100$

$=9%$

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