Question
A sum of ₹30,000 is invested partly at 4% and partly at R% per annum simple interest in the ratio of 8 : 7. If the total interest received after 2 years is ₹3,520, find the value of R.
Solution
ATQ,
Given: Total = ₹30,000 Invested in 8:7 ratio Time = 2 years Rate₁ = 4%, Rate₂ = R% Total interest = ₹3,520 Amount at 4% = ₹16,000 Amount at R% = ₹14,000 Interest₁ = (16000 × 4 × 2) / 100 = ₹1,280 Interest₂ = (14000 × R × 2) / 100 = 280R Total interest: 1280 + 280R = 3520 ⇒ 280R = 2240 ⇒ R = 2240 ÷ 280 = 8
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