A trust fund has Rs 30,000 that must be invested in two different types of bonds. The first bond pays 5% interest per year, and the second bond pays 7% interest per year. Using matrix multiplication, determine how to divide Rs 30,000 among the two types of bonds. If the trust fund must obtain an annual total interest of: (a) Rs 1800(b) Rs 2000
Answers
Answer:
Step-by-step explanation:
Given [x30000−x][0.050.07]=1800:
[x×(0.05)+(30000−x)×0.07]=1800
0.05x+2100−0.07x=1800
2100−0.02x=1800
2100−1800=0.02x
0.02x=300→x=10.02300
Solving for x, x=15,000 and 30,000−x=15,000.
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Given: A trust fund has Rs 30,000 that must be invested in two different types of bonds. The first bond pays 5% interest per year, and the second bond pays 7% interest per year.
To find : how to divide Rs 30,000 among the two types of bonds. If the trust fund must obtain an annual total interest of: (a) Rs 1800(b) Rs 2000
Solution:
Amount in First Bond = X Rs
Amount in 2nd Bond = 30000 - X Rs
Interest from 1st Bond = (5/100)X = X/20 Rs
Interest from 2nd bond = (7/100)(30000 - X) = 2100 - 7X/100 Rs
X/20 + 2100 - 7X/100 = 1800
=> 300 = 2X/100
=> X = 15000
30000 - 15000 = 15000 Rs
Both bond of Equal Amount = Rs 15000
X/20 + 2100 - 7X/100 = 2000
=> 100 = 2X/100
=> X = 5000
30000 - 15000 = 5000 Rs
5 % Bond = Rs 5000 & 7% Bond = Rs 25000
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