Question

Vijay invested Rs.$50,000$ partly at $11\%$ per annum and partly $9\%$ per annum simple interest.If he annually receives Rs.$5400$ as interest, how much did he invest at each rate?

Answer 1

Let vijay invest Rs.$x$ at $11\%$ per annum, and Rs$50,000-x$ at $9\%$ per annum.

Interest on Rs.$x$ at $11\%$ p.a$=$Rs.$\frac{x\times 11}{100}$

Interest on Rs.$50,000-x$ at $9\%$ p.a$=$Rs.$\frac{(50,000-x)\times 9}{100}$

Total interest$=$Rs.$5400$

$\Rightarrow \frac{x\times 11}{100}+\frac{(50,000-x)\times 9}{100}=5400$

$\Rightarrow 11x+4,50,000-9x=5,40,000$

$\Rightarrow 2x=5,40,000-4,50,000=90,000$

$\Rightarrow x=\frac{90,000}{2}=45,000$

Vijay invested Rs.$45,000$ at $11\%$ p.a and $(50,000-45,000)=$Rs.$5000$ at $9\%$ p.a