New SEBI Grade A IT Stream New Batch Starts on Nov 30. Click Here to Enroll

    Register

    Question

    A person invested some amount at the rate of 12% simple interest and a certain amount at the rate of 10% simple interest. He received yearly interest of Rs 140. But if he had interchanged the amounts invested, he would have received Rs 6 more as interest. How much did he invested at 10% simple interest initially?

    A Rs 700 Correct Answer Incorrect Answer
    B Rs 500 Correct Answer Incorrect Answer
    C Rs 800 Correct Answer Incorrect Answer
    D Cannot be determined Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount invested at 12% = Rs x Amount invested at 10% = Rs y ⇒ 140 = (x ×12 ×1)/100 + (y ×10 ×1)/100 ⇒ 12x + 10y = 14,000 ………………..(i) Now, according to the question, If amount invested at 12% = Rs. y and amount invested at 10% = Rs x ⇒ 146 = (y ×12 ×1)/100 + (x ×10 ×1)/100 ⇒ 12y + 10x = 14,600 ………………..(ii) Solving (i) and (ii), we get x = Rs. 500 and y = 800 Amount invested at 10% simple interest = Rs. 800

    Practice Next