A man invests Rs.3,000 at the rate of 5% per annum. How much more should he invest at the rate of 8%, so that he can earn a total of 6% per annum?
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Step-by-step explanation:
Thus, we find that the ratio of the amounts invested in both the rates = 2: 1. Since he has invested Rs. 3,000 at 5% he should further invest Rs. 1,500 at 8% to earn a total interest of 6% per annum.
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Step-by-step explanation:
3000(1.05)= 3150
3150+ x(1.08) = (3000+x)(1.06)
=3180+1.06x
30= .02x
x= 30/.02 =1500
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