A man has part of Rs.4500 invested at 4% and the rest at 6%. If the annual return on each investment is the same, the average rate of interest which he realizes on the Rs.4500 is
A
5%
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B
4.8%
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C
5.2%
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D
4.6%
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E
None of these
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Solution
The correct option is A4.8% 1x=12(16+14)∴x=4.8; or Let y be the amount invested at 4%. Then 0.04y=0.06(4500−y) and y=2700. Therefore the total interest is 0.04(2700)+.06(1800)=216, and (216/4500).100=4.8%.