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Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.
- a)Rs. 8500
- b)Rs. 15000
- c)Rs. 7500
- d)Rs. 17,000
Correct answer is option 'C'. Can you explain this answer?
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Srinivasan invests two equal amounts in two banks giving 10% and 12% r...
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Srinivasan invests two equal amounts in two banks giving 10% and 12% r...
To solve this problem, we can use the concept of simple interest. Simple interest is calculated using the formula:
Interest = Principal * Rate * Time
Given that Srinivasan invests equal amounts in two banks with interest rates of 10% and 12% respectively, and earns a total interest of Rs. 1650, we can set up the following equation:
Principal * 10% * 1 + Principal * 12% * 1 = Rs. 1650
We can simplify this equation to:
Principal * (0.10 + 0.12) = Rs. 1650
Principal * 0.22 = Rs. 1650
Now we can solve for the principal amount by dividing both sides of the equation by 0.22:
Principal = Rs. 1650 / 0.22
Principal = Rs. 7500
Therefore, the sum invested in each bank is Rs. 7500.
Let's summarize the solution:
Given:
- Two banks with interest rates of 10% and 12%
- Total interest earned is Rs. 1650
Formula:
Simple Interest = Principal * Rate * Time
Solution:
1. Set up the equation: Principal * 10% * 1 + Principal * 12% * 1 = Rs. 1650
2. Simplify the equation: Principal * (0.10 + 0.12) = Rs. 1650
3. Solve for the principal amount: Principal = Rs. 1650 / 0.22
4. Calculate the principal: Principal = Rs. 7500
5. Therefore, the sum invested in each bank is Rs. 7500.
Interest = Principal * Rate * Time
Given that Srinivasan invests equal amounts in two banks with interest rates of 10% and 12% respectively, and earns a total interest of Rs. 1650, we can set up the following equation:
Principal * 10% * 1 + Principal * 12% * 1 = Rs. 1650
We can simplify this equation to:
Principal * (0.10 + 0.12) = Rs. 1650
Principal * 0.22 = Rs. 1650
Now we can solve for the principal amount by dividing both sides of the equation by 0.22:
Principal = Rs. 1650 / 0.22
Principal = Rs. 7500
Therefore, the sum invested in each bank is Rs. 7500.
Let's summarize the solution:
Given:
- Two banks with interest rates of 10% and 12%
- Total interest earned is Rs. 1650
Formula:
Simple Interest = Principal * Rate * Time
Solution:
1. Set up the equation: Principal * 10% * 1 + Principal * 12% * 1 = Rs. 1650
2. Simplify the equation: Principal * (0.10 + 0.12) = Rs. 1650
3. Solve for the principal amount: Principal = Rs. 1650 / 0.22
4. Calculate the principal: Principal = Rs. 7500
5. Therefore, the sum invested in each bank is Rs. 7500.
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Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.a)Rs. 8500b)Rs. 15000c)Rs. 7500d)Rs. 17,000Correct answer is option 'C'. Can you explain this answer?
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Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.a)Rs. 8500b)Rs. 15000c)Rs. 7500d)Rs. 17,000Correct answer is option 'C'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.a)Rs. 8500b)Rs. 15000c)Rs. 7500d)Rs. 17,000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.a)Rs. 8500b)Rs. 15000c)Rs. 7500d)Rs. 17,000Correct answer is option 'C'. Can you explain this answer?.
Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.a)Rs. 8500b)Rs. 15000c)Rs. 7500d)Rs. 17,000Correct answer is option 'C'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.a)Rs. 8500b)Rs. 15000c)Rs. 7500d)Rs. 17,000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.a)Rs. 8500b)Rs. 15000c)Rs. 7500d)Rs. 17,000Correct answer is option 'C'. Can you explain this answer?.
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Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.a)Rs. 8500b)Rs. 15000c)Rs. 7500d)Rs. 17,000Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.a)Rs. 8500b)Rs. 15000c)Rs. 7500d)Rs. 17,000Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each.a)Rs. 8500b)Rs. 15000c)Rs. 7500d)Rs. 17,000Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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