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An investment counselor put 70% of a client's money into a 15% annual simple interest money market fund. The remainder was invested in 12% annual simple interest account. Find the amount invested in each of the annual simple interest earned is Rs.1,48,050.?
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?An investment counselor put 70% of a client's money into a 15% annual...
Investment Breakdown
To determine how much was invested in each account, we need to analyze the total interest earned and the distribution of investments.
Total Interest Earned
The total annual interest earned from both investments is Rs. 1,48,050.
Investment Distribution
- 70% of the total investment is allocated to a money market fund with a 15% interest rate.
- 30% of the total investment is allocated to a 12% interest account.
Let’s Define Variables
- Let the total amount invested be Rs. X.
- Amount in the money market fund = 0.70X
- Amount in the 12% account = 0.30X
Calculating Interest from Each Investment
- Interest from money market fund = 0.70X * 15% = 0.105X
- Interest from 12% account = 0.30X * 12% = 0.036X
Total Interest Equation
The total interest from both investments can be expressed as:
0.105X + 0.036X = 1,48,050
Combining the terms gives:
0.141X = 1,48,050
Finding Total Investment (X)
To find X:
X = 1,48,050 / 0.141
X = Rs. 1,05,000 (approximately)
Investment Amounts
- Amount in the money market fund:
- 0.70 * 1,05,000 = Rs. 73,500
- Amount in the 12% account:
- 0.30 * 1,05,000 = Rs. 31,500
Summary of Investments
- Money Market Fund: Rs. 73,500
- 12% Account: Rs. 31,500
This breakdown clarifies the distribution of the client's investment and the interest earned from each account.
To determine how much was invested in each account, we need to analyze the total interest earned and the distribution of investments.
Total Interest Earned
The total annual interest earned from both investments is Rs. 1,48,050.
Investment Distribution
- 70% of the total investment is allocated to a money market fund with a 15% interest rate.
- 30% of the total investment is allocated to a 12% interest account.
Let’s Define Variables
- Let the total amount invested be Rs. X.
- Amount in the money market fund = 0.70X
- Amount in the 12% account = 0.30X
Calculating Interest from Each Investment
- Interest from money market fund = 0.70X * 15% = 0.105X
- Interest from 12% account = 0.30X * 12% = 0.036X
Total Interest Equation
The total interest from both investments can be expressed as:
0.105X + 0.036X = 1,48,050
Combining the terms gives:
0.141X = 1,48,050
Finding Total Investment (X)
To find X:
X = 1,48,050 / 0.141
X = Rs. 1,05,000 (approximately)
Investment Amounts
- Amount in the money market fund:
- 0.70 * 1,05,000 = Rs. 73,500
- Amount in the 12% account:
- 0.30 * 1,05,000 = Rs. 31,500
Summary of Investments
- Money Market Fund: Rs. 73,500
- 12% Account: Rs. 31,500
This breakdown clarifies the distribution of the client's investment and the interest earned from each account.
Community Answer
?An investment counselor put 70% of a client's money into a 15% annual...
Let's take principal amount be P
if 70% of principal amount having 15% annual simple interest say 70 P
and 30% of principal amount having 12% simple interest say 30P
now we know that
SI = p i t and time in years is 1 year
so 1480 50 = 70P×0.15+ 30P×0.12
14 8050= 10.5P+ 3.6P
14 8050 /14.1=P
therefore P = 10500
if 70% of principal amount having 15% annual simple interest say 70 P
and 30% of principal amount having 12% simple interest say 30P
now we know that
SI = p i t and time in years is 1 year
so 1480 50 = 70P×0.15+ 30P×0.12
14 8050= 10.5P+ 3.6P
14 8050 /14.1=P
therefore P = 10500
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?An investment counselor put 70% of a client's money into a 15% annual simple interest money market fund. The remainder was invested in 12% annual simple interest account. Find the amount invested in each of the annual simple interest earned is Rs.1,48,050.?
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?An investment counselor put 70% of a client's money into a 15% annual simple interest money market fund. The remainder was invested in 12% annual simple interest account. Find the amount invested in each of the annual simple interest earned is Rs.1,48,050.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about ?An investment counselor put 70% of a client's money into a 15% annual simple interest money market fund. The remainder was invested in 12% annual simple interest account. Find the amount invested in each of the annual simple interest earned is Rs.1,48,050.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for ?An investment counselor put 70% of a client's money into a 15% annual simple interest money market fund. The remainder was invested in 12% annual simple interest account. Find the amount invested in each of the annual simple interest earned is Rs.1,48,050.?.
?An investment counselor put 70% of a client's money into a 15% annual simple interest money market fund. The remainder was invested in 12% annual simple interest account. Find the amount invested in each of the annual simple interest earned is Rs.1,48,050.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about ?An investment counselor put 70% of a client's money into a 15% annual simple interest money market fund. The remainder was invested in 12% annual simple interest account. Find the amount invested in each of the annual simple interest earned is Rs.1,48,050.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for ?An investment counselor put 70% of a client's money into a 15% annual simple interest money market fund. The remainder was invested in 12% annual simple interest account. Find the amount invested in each of the annual simple interest earned is Rs.1,48,050.?.
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