Question
"S" has Rs. 'p' with him. He invested 20% of the sum at
15% p.a. simple interest for 4 years in an FD and the rest at 20% p.a. simple interest for 3 years in SIP. If the total amount received by him is Rs. 6800, then find the sum invested at 20% p.a. simple interest.Solution
ATQ, {(0.20p × 15 × 4)/100} + 0.20p + 0.80p + {(0.80p × 20 ×3)/100} = 6800 Or, 0.6p + p = 6800 Or, p = 6800/1.6 = Rs. 4250 Therefore, sum invested at 20% p.a. simple interest = 0.8p = Rs.3400
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