Question

Rahul invested a part of ₹50,000 at 4% simple interest per annum in a post office and rest in a private bank at 5% per annum. His gain at the end of the year was ₹2,300. Find the amount of money he invested in private bank.

• A. 20,000
• B. 40,000
• C. 30,000
• D. None of these

Answer 1

The correct option is C 30,000

Let ₹x be the amount he invested in post office and ₹(50,000-x) will be the amount he invested in private bank.
$\Rightarrow \frac{x\times 4}{100}+\frac{(50,000-x)\times 5}{100}=2300$
$\Rightarrow \frac{4x+2,50,000-5x}{100}=2300$
$\Rightarrow -x+2,50,000=2,30,000$
$\Rightarrow x=₹20000$
Therefore amount invested private bank = 50,000 - 20,000 = ₹ 30,000