A man invests 80000 in two schemes which provide 8% interest and 6% per annum respectively, at the end of 3 years he got ₹18000 as interest then find the investor money at 8% p.a.
Answers
Answer:
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The Principal invested 8% per annum was Rs.75,000.
GIVEN: A man invests 80000 in two schemes that provide 8% interest and 6% per annum respectively, at the end of 3 years he got ₹18000 as interest.
TO FIND The Principal amount invested for 8% per annum.
SOLUTION:
As we are given in the question,
A total of 80,000 Rs were invested in two schemes in which the interest rate was 8% and 6% respectively.
Also, it is given that after 3 years, 18,000 were received as interest for the amount that was put into scheme one where the rate of interest was 8%.
Let us assume the initial amount be x.
Therefore mathematically,
3 ( 8% of x ) = 18,000
3 ( 8/100*x) = 18,000
8/100*x = 18,000/3
8/100*x = 6,000
x = 6,000 * 100/8
x = 75,000
Therefore,
The amount initially invested by the man in the scheme that provided 8% interest was Rs.75,000.
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