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Question

You have Rs.12,000 and you want to invest it in two schemes yielding 10% and 15% interest . How much amount should be invested in each schemes so that you get overall 12% of interest .

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Solution

Let the amount to be saved at 10% be x

Let the amount to be saved at 15% be y

According to question,

x+y=12000.....(1) and

10% of x+15% of y=12% of 12000

10100x+15100y=12100×12000

10x+15y=144000...(2)

The equation (1)×1010x+10y=120000...(3)

Now, equation(2)(3)

15y10y=144000120000

5y=24000

y=240005=4800

Substitute y=4800 value in x+y=12000

x+4800=12000

x=120004800=7200

The amount saved at 10% = Rs.7200

The amount saved at 15% = Rs.4800.


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