Q:
A man sells Rs.5000, 12 % stock at 156 and uinvests the proceeds parity in 8 % stock at 90 and 9 % stock at 108. He hereby increases his income by Rs. 70. How much of the proceeds were invested in each stock?
Answer & Explanation
Answer: B) 4200
Explanation: S.P of Rs. 5000 stock = Rs.(156100*5000)= Rs. 7800.
Income from this stock = Rs.(12100*5000) = Rs. 600.
Let investment in 8 % stock be x and that in 9 % stock = (7800 - x).
Therefore,
(x*890)+(7800-x)*9108=[600+70]
4x45+7800-x12=670⇔x=3600
Therefore, Money invested in 8 % stock at 90 = Rs. 3600.
Money invested in 9 % at 108 = Rs. (7800-3600) = Rs. 4200.
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