Question 51

A sum of ₹25600 is invested on simple interest partly at 7% per annum and the remaining at 9% per annum. The total interest at the end of 3 years is ₹5832. How much money(in ₹) was invested at 9% per annum?

Solution

Let the amount invested in 9% per annum = P

Amount invested in 7% per annum = 25600 - P

The total interest at the end of 3 years is ₹5832.

P x 3 x $$\frac{9}{100}$$ + (25600 - P) x 3 x $$\frac{7}{100}$$ = 5832

$$\frac{9}{100}$$P + 1792 - $$\frac{7}{100}$$P = 1944

$$\frac{2}{100}$$P = 152

P = ₹7600

$$\therefore$$ Amount invested at 9% per annum = P = ₹7600

Hence, the correct answer is Option B

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