📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    An investor put Rs. x into Fund X and Rs. x/2 into Fund Y.

    Fund X offers 4% p.a. and Fund Y offers 10% p.a. simple interest. If after 3 years the total interest from both funds is Rs. 540, what is the value of ‘x’?
    A Rs.2000 Correct Answer Incorrect Answer
    B Rs.2900 Correct Answer Incorrect Answer
    C Rs.2800 Correct Answer Incorrect Answer
    D Rs.2500 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    x × 0.04 × 3 + x/2 × 0.10 × 3 = 540

    0.12x + 0.15x = 540

    0.27x = 540

    x = 540 / 0.27 = 2000

    So, the value of ‘x’ is Rs. 2000

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question