Question 130

A person invested a sum of ₹18,600 at x% p.a. and another sum that is twice the formerat (x + 2) % p.a., both at simple interest. If the total interest earned on both investments for $$3\frac{1}{2}$$ years is ₹23,110.50, then the rate of interest p.a. on the second investment is:

Solution

Principal sum = Rs. 18,600 for 3.5 years

Simple Interest = $$\frac{P\times R\times T}{100}$$

=> $$(\frac{18600\times x\times3.5}{100})+(\frac{37200\times(x+2)\times3.5}{100})=23110.50$$

=> $$651x+1302x+2604=23110.50$$

=> $$1953x=23110.50-2604=20506.50$$

=> $$x=\frac{20506.50}{1953}=10.5\%$$

$$\therefore$$ Rate of investment on 2nd investment = $$10.5+2=12.5\%$$

=> Ans - (D)

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