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A money lender lends Rs. 400 for 3 years to a person and lends Rs. 500 for 4 years to the other person at the same rate of simple interest. If altogetherhe receives Rs. 160 as interest, what is the rate of interest per annum ?

A money lender lends Rs. 400 for 3 years to a person and lends Rs. 500 for 4 years to the other person at the same rate of simple interest. If altogetherhe receives Rs. 160 as interest, what is the rate of interest per annum ? Correct Answer 5%

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