Question
Person P allocated 65% of the
money he had between X and Y in a ratio of 6:7. Both Y and X invested the amounts they received in a scheme offering 8% simple interest and 7% simple interest for five years, respectively. Given that the difference in the interests earned by X and Y after five years is Rs. 1890, determine the amount remaining with P.Solution
ATQ, Let the amount of money P had initially = Rs. a Amount distributed between X and Y = Rs. 0.65a Amount received by X = 0.65a × 6/13 = Rs. 0.3a Amount received by Y = 0.65a × 7/13 = Rs. 0.35a Interest earned Y = 0.35a × 0.08 × 5 = Rs. 0.14a Interest earned by X = 0.3a × 0.07 × 5 = Rs. 0.105a According to question: 0.14a – 0.105a = 1890 0.035a = 1890 a = 54000 So the amount left with P = 0.35 × 54000 = Rs.18,900
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