If the simple interest at the same interest rate on ₹500 for 4 years and ₹700 for 2 years, combined together, is ₹280, then what is the rate of interest?

Correct option is C

Given:

We are given two sums of money: ₹500 for 4 years and ₹700 for 2 years. The combined simple interest is ₹280. We are asked to find the rate of interest (R).

Formula Used:

The formula for simple interest is:

​$$SI = \frac{P \times R \times T}{100}$$​​

Solution: