SOLUTION: Grade 9 question: A man lent Rs. 1800 to Rohit at a certain rate of interest and Rs. 2300 to Mohit at 1% higher interest rate. If his annual income from both these sources be Rs

Question 1097096: Grade 9 question:
A man lent Rs. 1800 to Rohit at a certain rate of interest and Rs. 2300 to Mohit at 1% higher interest rate. If his annual income from both these sources be Rs. 248.50, find interest rate charged from both respectively.
Answer to the question is 5.5% and 6.5%.
I am unable to find steps for the solution.
Answer by greenestamps(13216) (Show Source): You can put this solution on YOUR website!

Let x be the interest rate on the first loan; then x+.01 is the interest rate on the second.

The interest on the first loan is 1800x; the interest on the second is 2300(x+.01).

Since the total interest is 248.50,

It should be straightforward to solve from there....
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