Question

A person invested Rs.50,000, partly at 10% and the rest at 12% per annum at simple interest. At the end of two years, the total interest received was Rs. 11,640. How much is the first and the second part of the investment?
1. Rs. 9,000; Rs. 41,000
2. Rs. 31,000; Rs. 19,000
3. Rs. 20,000; Rs. 30,000
4. Rs. 10,000; Rs. 40,000

Answer 1

Correct Answer - Option 1 : Rs. 9,000; Rs. 41,000

Given:

A person invested Rs.50,000.

The rate of interest is partly at10% and 12% p.a.

The total interest received after 2 years is Rs.11,640.

Formula Used:

SI = P × R × T

Here, P = Principal, R = Rate, T = Time 

Calculation:

Let the first part investment be x.

Let the second part investment be (50000 - x).

Simple interest at 10% for 2 years = (x × 10 × 2)/100 = x/5

Simple interest at 12% for 2 years = [(50000 - x) × 12 × 2)/100 = 6(50000 - x)/25 

The total interest received after 2 years is Rs.11,640. 

⇒ x/5 + 6(50000 - x)/25 = 11,640  

⇒ (5x + 300000 - 6x)/25 = 11,640 

⇒ x = 9000

The first part investment part is Rs.9000.

The second part investment part = 50000 - 9000 = Rs.41000 

∴ The first and the second part of the investment is Rs.9000 and Rs.41000.