Instructions

Study the following graph to answer these question?
Three different finance companies declare a fixed annual rate of interest on the amounts invested with them by investors. The rate of interest offered by these companies may differ from year to year depending on the variation in the economy of the country and the banks' rate of interest. The annual rate of interest offered by the three Companies P,  Q, and R  over the years are shown by the line graph provided below.

Question 152

In 2010, a part of ₹30 lakhs was invested in Company P and the rest was invested in Company Q and R for one year. The total interest received was 2.43 lakh. What was the amount invested in Company P?

Solution

Let x be the amount invested in P.

Interest = 7.5x/100

=> 3000000 - x is invested in Q and R

Interest = (3000000 - x)9/100

Given, 7.5x/100 + (3000000 - x)9/100 = 243000

Upon solving, x = 13.5 lakhs


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