A money lender lends Rs. 400 for 3 years to a person and lends Rs. 500 for 4 years to the other person at the same rate of simple interest. If altogetherÂ he receives Rs. 160 as interest, what is the rate of interest per annum ?

A money lender lends Rs. 400 for 3 years to a person and lends Rs. 500

1.	A money lender lends Rs. 400 for 3 years to a person and lends Rs. 500 for 4 years to the other person at the same rate of simple interest. If altogetherÂ he receives Rs. 160 as interest, what is the rate of interest per annum ?
A.	0.05
B.	0.07
C.	0.09
D.	0.1
Answer» B. 0.07