17. Five marks exercise problems XII

Arun lent \(₹5000\) to Balaji for \(2\) years and \(₹3000\) to Charles for \(4\) years on simple interest at the same rate of interest and received \(₹2200\) in all from both of them as interest. Find the rate of interest per year.

 

Rate of interest \(=\) \(\%\)