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Question 56
A person invested one-fourth of the suum of ₹25,000 at a certain rate of simple interest and the rest at 4% p.a. higher rate. If the total interest received for 2 years is ₹4,125, whatis the rate at which the second sum was invested?
Solution
one-fourth of the sum of ₹25,000 = 25000/4 = Rs 6250
Remaining amount = 25000 - 6250 = Rs 18750
Interest = $$\frac{prt}{100}$$
ATQ,
$$\frac{6250 \times r \times 2}{100}$$ + $$\frac{18750 \times (r + 4) \times 2}{100}$$ = 4125
6350r + 18750r + 75000 = 4125 $$\times $$ 50
r = 131250/25100 = 5.22
r + 4 = 5.22 + 4 = 9.22 ~ 9.25%
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