Question
Ms. Riya allocated her savings into three different
funds X, Y, and Z in the ratio 8:7:6. The interest rates for these funds are w% p.a., (w − 4)% p.a., and (w + 4)% p.a., respectively (simple interest). If the total simple interest earned in 1 year is Rs. 3,320 and the interest rate of fund Y compared to Z is in the ratio 3:5, find the total savings invested.Solution
ATQ, Given (w − 4) : (w + 4) = 3 : 5 5(w − 4) = 3(w + 4) 5w − 20 = 3w + 12 2w = 32 w = 16 Rates: X = 16% , Y = 12% , Z = 20% Let investments be: X = 8k, Y = 7k, Z = 6k Total SI for 1 year: SI = [8k16 + 7k12 + 6k*20] / 100 = [128k + 84k + 120k] / 100 = 332k / 100 Given SI = 3320: 332k/100 = 3320 332k = 332000 k = 1000 Total savings = (8 + 7 + 6)k = 21k = 21 * 1000 = 21000 Answer: Total savings invested = Rs. 21,000
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