Question 41

A man received Rs. 12000 as Puja Bonus. He invested a part of it at 5% per annum and the remaining at 6% per annum, simple interest being allowed in each case. The total interest earned by him in 4 years is Rs. 2580. The sum invested at 5% per annum is

Solution

Let the sum invested in 5% per annum be x.

So, S.I. = prt/100 [ S.I.= Simple Interest]

x*5*4/100 + (12000-x) *4 *6/100 = 2580

On solving, we get

x = Rs. 7500

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