Question

A person invested a sum of `18,600 at x% p.a. and another sum that is twice the former at (x + 2)% p.a, both at simple interest. If the total interest earned on both investments for 3½ years is `23,110.50, then the rate of interest p.a on the second investment is:

• A. 13%
• B. 11%
• C. 12.5%
• D. 10.5%

Answer 1

Answer: (C)