A person invested part of Tk 45000 at 4% and the rest at 6%. if his annual incomes from both are equal, then what is the average cost of interest?
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Average Rate of interest = 4.8 % per annum if 45000 was invested in two parts at 4% & 6 % such that interest from both are equal
Step-by-step explanation:
Let say P was invested at 4 %
and 45000 - P was invested at 6 %
Interest from P = P * 4 * 1 /100 = 0.04P
Interest from 45000 - P = (45000 -P) * 6 * 1/100 = 2700 - 0.06P
0.04P = 2700 - 0.06P
=> 0.01P = 2700
=> P = 27000
27000 invested at 4 %
& 45000 - 27000 = 18000 invested at 6 %
Total Interest = 27000 * 4 * 1 /100 + 18000*6 * 1 /100 =
1080 + 1080
= 2160
2160 = 45000 * R * 1/100
=> R = 4.8
Average Rate of interest = 4.8 % per annum
Learn More :
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