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Mr.Ram invested a total of 1,00,000/- in two banks for fixed interest. The first bank yields as interest of 9% p.a & 2nd bank yield 11% p.a. If the total interest at the end of one year is 9.75% p.a, then the amount invested in these banks respectively?
(a) Rs. 52,500/- & Rs. 47,500/-
(b) Rs. 62,500/- & Rs. 37,500/-
(c) Rs. 57,500/- & Rs. 42,500/-
(d) Rs. 67,500/- & Rs. 32,500/?
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Mr.Ram invested a total of 1,00,000/- in two banks for fixed interest....
Problem Overview
Mr. Ram has invested a total of Rs. 1,00,000 in two banks with different interest rates. The task is to find the amounts invested in each bank given the total interest accrued.
Given Information
- Total Investment = Rs. 1,00,000
- Interest from Bank 1 (9% p.a) = x
- Interest from Bank 2 (11% p.a) = y
- Total Interest Rate = 9.75% p.a
Setting Up the Equations
1. The total investment equation:
- x + y = 1,00,000
2. The total interest equation after one year:
- (0.09x + 0.11y) = 0.0975 * 1,00,000
Simplifying gives:
- 0.09x + 0.11y = 9,750
Substituting for y
From the total investment equation:
- y = 1,00,000 - x
Substituting into the interest equation:
- 0.09x + 0.11(1,00,000 - x) = 9,750
Simplification
1. Distributing the 0.11:
- 0.09x + 11,000 - 0.11x = 9,750
2. Combining like terms:
- -0.02x + 11,000 = 9,750
3. Solving for x:
- -0.02x = 9,750 - 11,000
- -0.02x = -1,250
- x = 62,500
Finding y
Substituting x back into the equation for y:
- y = 1,00,000 - 62,500 = 37,500
Final Amounts Invested
- Amount in Bank 1 (9% p.a) = Rs. 62,500
- Amount in Bank 2 (11% p.a) = Rs. 37,500
Conclusion
The amounts invested in the banks are:
- Bank 1: Rs. 62,500
- Bank 2: Rs. 37,500
Hence, the correct option is (b) Rs. 62,500/- & Rs. 37,500/-.
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Mr.Ram invested a total of 1,00,000/- in two banks for fixed interest. The first bank yields as interest of 9% p.a & 2nd bank yield 11% p.a. If the total interest at the end of one year is 9.75% p.a, then the amount invested in these banks respectively?(a) Rs. 52,500/- & Rs. 47,500/-(b) Rs. 62,500/- & Rs. 37,500/-(c) Rs. 57,500/- & Rs. 42,500/-(d) Rs. 67,500/- & Rs. 32,500/?
Question Description
Mr.Ram invested a total of 1,00,000/- in two banks for fixed interest. The first bank yields as interest of 9% p.a & 2nd bank yield 11% p.a. If the total interest at the end of one year is 9.75% p.a, then the amount invested in these banks respectively?(a) Rs. 52,500/- & Rs. 47,500/-(b) Rs. 62,500/- & Rs. 37,500/-(c) Rs. 57,500/- & Rs. 42,500/-(d) Rs. 67,500/- & Rs. 32,500/? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Mr.Ram invested a total of 1,00,000/- in two banks for fixed interest. The first bank yields as interest of 9% p.a & 2nd bank yield 11% p.a. If the total interest at the end of one year is 9.75% p.a, then the amount invested in these banks respectively?(a) Rs. 52,500/- & Rs. 47,500/-(b) Rs. 62,500/- & Rs. 37,500/-(c) Rs. 57,500/- & Rs. 42,500/-(d) Rs. 67,500/- & Rs. 32,500/? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr.Ram invested a total of 1,00,000/- in two banks for fixed interest. The first bank yields as interest of 9% p.a & 2nd bank yield 11% p.a. If the total interest at the end of one year is 9.75% p.a, then the amount invested in these banks respectively?(a) Rs. 52,500/- & Rs. 47,500/-(b) Rs. 62,500/- & Rs. 37,500/-(c) Rs. 57,500/- & Rs. 42,500/-(d) Rs. 67,500/- & Rs. 32,500/?.
Solutions for Mr.Ram invested a total of 1,00,000/- in two banks for fixed interest. The first bank yields as interest of 9% p.a & 2nd bank yield 11% p.a. If the total interest at the end of one year is 9.75% p.a, then the amount invested in these banks respectively?(a) Rs. 52,500/- & Rs. 47,500/-(b) Rs. 62,500/- & Rs. 37,500/-(c) Rs. 57,500/- & Rs. 42,500/-(d) Rs. 67,500/- & Rs. 32,500/? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
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