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A person invested a total amount of Rs 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2:1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is Rs 76000 then the amount (in Rs lakh) invested in the fixed deposit was
Correct answer is '9'. Can you explain this answer?
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Verified Answer
A person invested a total amount of Rs 15 lakh. A part of it was inve...
Assuming the amount invested in the ratio,2:1 was 200x and 100x, then the fixed deposit investment = 1500000-300x
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Hence, the interest = 200x*4/100 = 8x and 100x*3/100=3x
Interest from the fixed deposit = (1500000-300x)*6/100 = 90000-18x
Hence the total interest = 90000-18x+8x+3x=90000-7x =76000
=> 7x=14000
=>x=2000
Hence, the fixed deposit investment = 1500000 – 300*2000 = 900000 = 9 lakhs
Most Upvoted Answer
A person invested a total amount of Rs 15 lakh. A part of it was inve...
Solution:
Given, the total amount invested = Rs 15 lakh
Let the amount invested in fixed deposit = x lakh
Then, the remaining amount invested = (15 - x) lakh
According to the question,
Total annual interest income = Rs 76000
Let the amount invested in deposits earning 4% and 3% interest be 2y and y lakh respectively.
Then,
Total interest earned from fixed deposit = x * 6/100 = 0.06x lakh
Total interest earned from deposits earning 4% and 3% interest = (2y * 4/100) + (y * 3/100) = 0.08y lakh
Total interest earned from all investments = 0.06x + 0.08y
Given, total interest earned = Rs 76000
0.06x + 0.08y = 76000
Dividing by 100, we get
0.0006x + 0.0008y = 760
Multiplying by 10000, we get
6x + 8y = 7600000 …(i)
Also, the amount invested in deposits earning 4% and 3% interest is in the ratio of 2:1.
Therefore, 2y/y = 2/1
2y = y
y = (15 - x) * 2/3
2y = 2(15 - x) * 2/3 = (30 - 2x) * 1/3
Substituting this value of y in equation (i), we get
6x + 8(30 - 2x)/3 = 7600000
Simplifying the above equation, we get
x = 9
Therefore, the amount invested in the fixed deposit = Rs 9 lakh.
Hence, the correct answer is '9'.
Given, the total amount invested = Rs 15 lakh
Let the amount invested in fixed deposit = x lakh
Then, the remaining amount invested = (15 - x) lakh
According to the question,
Total annual interest income = Rs 76000
Let the amount invested in deposits earning 4% and 3% interest be 2y and y lakh respectively.
Then,
Total interest earned from fixed deposit = x * 6/100 = 0.06x lakh
Total interest earned from deposits earning 4% and 3% interest = (2y * 4/100) + (y * 3/100) = 0.08y lakh
Total interest earned from all investments = 0.06x + 0.08y
Given, total interest earned = Rs 76000
0.06x + 0.08y = 76000
Dividing by 100, we get
0.0006x + 0.0008y = 760
Multiplying by 10000, we get
6x + 8y = 7600000 …(i)
Also, the amount invested in deposits earning 4% and 3% interest is in the ratio of 2:1.
Therefore, 2y/y = 2/1
2y = y
y = (15 - x) * 2/3
2y = 2(15 - x) * 2/3 = (30 - 2x) * 1/3
Substituting this value of y in equation (i), we get
6x + 8(30 - 2x)/3 = 7600000
Simplifying the above equation, we get
x = 9
Therefore, the amount invested in the fixed deposit = Rs 9 lakh.
Hence, the correct answer is '9'.
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A person invested a total amount of Rs 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2:1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is Rs 76000 then the amount (in Rs lakh) invested in the fixed deposit wasCorrect answer is '9'. Can you explain this answer?
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A person invested a total amount of Rs 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2:1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is Rs 76000 then the amount (in Rs lakh) invested in the fixed deposit wasCorrect answer is '9'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about A person invested a total amount of Rs 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2:1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is Rs 76000 then the amount (in Rs lakh) invested in the fixed deposit wasCorrect answer is '9'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person invested a total amount of Rs 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2:1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is Rs 76000 then the amount (in Rs lakh) invested in the fixed deposit wasCorrect answer is '9'. Can you explain this answer?.
A person invested a total amount of Rs 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2:1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is Rs 76000 then the amount (in Rs lakh) invested in the fixed deposit wasCorrect answer is '9'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about A person invested a total amount of Rs 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2:1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is Rs 76000 then the amount (in Rs lakh) invested in the fixed deposit wasCorrect answer is '9'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person invested a total amount of Rs 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2:1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is Rs 76000 then the amount (in Rs lakh) invested in the fixed deposit wasCorrect answer is '9'. Can you explain this answer?.
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