Question

A person invests a sum of money in the two banks in the ratio of 2 : 3 at 10% and 20% rate of interest respectively. If the interest earned in the second part of the amount is 6000 then what is the interest in the first part of the amount.
1. Rs. 2,000
2. Rs. 3000
3. Rs. 1500
4. Rs. 2500
5. None of these

Answer 1

Correct Answer - Option 1 : Rs. 2,000

Given:

Interest on the second part of money = Rs. 6,000

Rate of interest is 10% and 20%

Formula used:

S.I = (P × R × T)/100

Here, S.I, P, R and T is simple interest, Principle, Rate and Time respectively

Calculation:

Let the investment in two banks be 2x and 3x

S.I = (3x × 20 × 1)/100

⇒ 6,000 = 3x/5

⇒ x = 10,000

Now, Investment of A = 20,000

S.I = (20,000 × 10 × 1)/100 = 2,000

∴ The interest in the first part is Rs. 2,000