Srinivasan invests two equal amounts in two banks giving 8% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1500. Find the sum invested in each.
A) Rs. 5800
B) Rs. 15000
C) Rs. 7500
D) Rs. 17,000
Answer: C) Rs. 7500
Explanation:
Let the sum invested be x. ⇒ 8x/100 + 12x/100 = 1500 ⇒ 20x = 150000 ⇒ x = 7500
A sum of Rs 4000 becomes Rs 7000 in 6 years at simple interest. If the rate of interest becomes double of itself, then what will be the amount (in Rs) after 6 years?
Sachin lent out Rs 60000 in two parts, first at 4% and the second at 10% interest. The yearly average interest comes out to be 6.4%. What are the amounts (in Rs) that were lent at 4% and 10% respectively?
Rs. x invested at 8% simple interest per annum for 5 years yields the same interest as that on Rs. y invested at 7.5% simple interest per annum for 6years. Find x : y.