Ravi lent Rs. 15,000 to Suresh for 4 years and Rs. 18,000 to Ramesh for 5 years on simple interest at the same rate of interest. He received a total interest of Rs. 16,200 from both loans. What is the rate of interest per annum?
- AOption (a)
12.9%
- BOption (b)
8.3%
- COption (c)
10.8%
- DOption (d)
4.75%
- EOption (e)
11.25%
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Correct answer
12.9%