1) A person deposited Rs.400 for 2 years, Rs.550 for 4 years and Rs. 1,200 for 6 years. He received the total simple interest of Rs.1020. The rate of interest per annum is A) 10% B) 5% C) 15% D) 20% E) 25% Answer: Option AExplanation:Let the rate of interest be R% per annum. Given, 400×2×R100 +550×4×R100 +1200×6×R100 =1020 8R+22R+72R =1020 ⇒102R=1020 ⇒R = 10%.