Question

A man invests rs. 35000 in total. A part of this amount is invested at an annual rate of 12% and the rest at an annual rate of 14% . If he received a total annual interest of rs. 4460,then how much did he invests at each rate

Answer 1

Answer:

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Explanation:

Answer 2

Answer:

A man invests in total = Rs. 35000

Time, n = 1 year

Let the amount invested at an annual rate of 12% be Rs. x and at an annual rate of 14% be Rs. (35000 - x)

Total annual interest i.e., Total C.I. at the end of the year = Rs. 4460

Therefore,  

Total C.I. = x[(1 + r/100)ⁿ - 1] + (35000 - x)[(1 + r/100)ⁿ - 1]

⇒ 4460 = x[(1 + 12/100) - 1] + (35000 - x)[(1 + 14/100) - 1]

⇒ 4460 = 0.12 x + 4900 – 0.14 x

⇒ 0.02 x = 440

⇒ x = Rs. 22000

And, 35000 – x = 35000 – 22000 = Rs. 13000  

Thus, he invested Rs. 22000 @ 12%  and Rs. 13000 @ 14%.