Question

    An amount of 'a' is invested at an annual interest rate

    of 18% with simple interest, and another amount of  'a + 750' is invested at an annual interest rate of 24% with simple interest. After a period of 3 years, the combined interest earned from both investments amounts to Rs. 2052.determine the value of 'a' under these conditions.
    A 1500 Correct Answer Incorrect Answer
    B 1300 Correct Answer Incorrect Answer
    C 1200 Correct Answer Incorrect Answer
    D 1525 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    According to question,   a × 0.18 × 3 + (a + 750) × 0.24 × 3 = 2052   Or, 0.18a + 0.24a + 180 = 684   Or, 0.42a = 504   Or, a = 1200

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