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Samar invested ₹5000 at 7% and 7000 at 6%.After a certain time, he found that the difference between the both the interest earned was ₹350.Find the duration of investments?
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Samar invested ₹5000 at 7% and 7000 at 6%.After a certain time, he fou...
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Samar invested ₹5000 at 7% and 7000 at 6%.After a certain time, he fou...
Given:
Samar invested ₹5000 at 7% and ₹7000 at 6%. The difference between the interest earned from these two investments is ₹350.

To find:
The duration of the investments.

Solution:
Let's assume that the duration of the investments is 't' years.

Calculating interest earned:
The interest earned from the investment of ₹5000 at 7% can be calculated using the formula:
Interest = Principal * Rate * Time
Interest1 = ₹5000 * (7/100) * t

The interest earned from the investment of ₹7000 at 6% can be calculated using the formula:
Interest = Principal * Rate * Time
Interest2 = ₹7000 * (6/100) * t

Given:
The difference between the two interests is ₹350.

Equation:
Interest1 - Interest2 = ₹350
(₹5000 * (7/100) * t) - (₹7000 * (6/100) * t) = ₹350

Simplifying the equation:
350t = ₹350
t = ₹350 / 350
t = 1 year

Therefore, the duration of the investments is 1 year.
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Samar invested ₹5000 at 7% and 7000 at 6%.After a certain time, he found that the difference between the both the interest earned was ₹350.Find the duration of investments?
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