Question

A trust has Rs 30000 that must be invested in two different types of bonds. The first bond pays 5% interest per year , and second bond pays 7% interest per year. Using matrix multiplication, determine how to divide Rs 30000 among the two bonds. If the trust fund must obtain an annual total interest of
1) Rs.1800 2) Rs.2000
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Answer 1

Answer:

Then, the sum of money invested in the second bond will be Rs (30000 − x). Therefore, in order to obtain an annual total interest of Rs 2000, we have: Thus, in order to obtain an annual total interest of Rs 2000, the trust fund should invest Rs 5000 in the first bond and the remaining Rs 25000 in the second bond.