Question

An amount of `₹ 65,000 is invested in three bonds at the rates of 6%, 8 %, % and 10% per annum respectively. The total annual income is ` ₹4,800. The income from the third bond is ` ₹600 more than that from the second bond. Determine the price of each bond by elimination method.

Answer 1

Answer:

Step-by-step explanation:

An amount of 65,000 is invested in three bonds at the rates of 6 % , 8 %, and 10% per annum   respectively

Amount Invested = Rs 65000

Bond 1  = Rs  1000 A

Bond 2 = Rs  1000 B

Bond 3 = 65000 - 1000A - 1000B =  1000(65 - A -B) Rs

Income from Bond 1 = (6/100)* 1000A = 60A Rs

income from Bond 2 = (8/100) * 1000B = 80B  Rs

Income from bond 3 = (10/100) * 1000(65-A-B) = 100(65 - A - B)  Rs

60A + 80B + 100(65 - A - B) = 4800

=> 40A + 20B = 1700

=> 2A + B = 85  - Eq 1

100(65-A-B) = 600 + 80B

=> 100A + 180B = 5900

=> 5A + 9B = 295   - Eq 2

9 * Eq1 - Eq2

13A = 470

=> A = 470/13

2(470/13) + B = 85

=> B = 165/13

First Bond = 1000A =  470000/13  =  Rs 36153.85

Second Bond = 1000B = 165000/13 = Rs 12692.30

Third bond = 1000( 65 - 470/13 - 165/13) = 210000/13 =  Rs 16153.85