A person invested a total amount of 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 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer?

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A person invested a total amount of ₹ 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 ₹ 76000 then the amount (in ₹ lakh) invested in the fixed deposit was

(2019)

a)
9
b)
8
c)
6
d)
7

Correct answer is option 'A'. Can you explain this answer?

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A person invested a total amount of 15 lakh. A part of it was investe...

Let the amount invested in fixed deposit be x lakhs.
According to the question,

Hence the amount (in lakh) invested in fixed deposite = 9.

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Most Upvoted Answer

A person invested a total amount of 15 lakh. A part of it was investe...

Let's assume that the amount invested in the fixed deposit is x lakh.

Given:
Total investment amount = 15 lakh
Amount invested in fixed deposit = x lakh
Amount invested in other deposits = (15 - x) lakh

Now, let's calculate the interest earned from each investment:

Interest earned from the fixed deposit = (x * 6%) = 0.06x lakh

Interest earned from the first other deposit = ((15 - x) * 2/3 * 4%) = (2/75)(15 - x) lakh
(Note: The ratio of 2:1 means that out of the remaining amount, 2/3 is invested in the first other deposit.)

Interest earned from the second other deposit = ((15 - x) * 1/3 * 3%) = (1/50)(15 - x) lakh
(Note: The ratio of 2:1 means that out of the remaining amount, 1/3 is invested in the second other deposit.)

Total interest earned = Interest earned from fixed deposit + Interest earned from the first other deposit + Interest earned from the second other deposit
76000 = 0.06x + (2/75)(15 - x) + (1/50)(15 - x)

Simplifying the equation:
76000 = 0.06x + (30/75) - (2x/75) + (15 - x)/50
76000 = 0.06x + 2/5 - 2x/75 + 3(15 - x)/150
Multiplying through by 150 to remove the fractions:
76000 * 150 = 9x + 60 - 2x + 3(15 - x)
11400000 = 9x + 60 - 2x + 45 - 3x
11400000 = 4x + 105
4x = 11400000 - 105
4x = 11399895
x = 11399895/4
x = 2849973.75
x ≈ 28.5 lakh

Therefore, the amount invested in the fixed deposit is approximately 28.5 lakh, which is closest to option A, i.e., 9 lakh.

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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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A person invested a total amount of 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 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer?

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A person invested a total amount of 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 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about A person invested a total amount of 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 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person invested a total amount of 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 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer?.

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