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Question
A man invested Rs 35000, a part of it at 12% and the rest at 14%. If he received a total annual interest of Rs 4460, how much did he invest at each rate?
Solution
Let investment at 12% be x and at 14% be y.
Then, x + y = 35000
⇒ y = 35000 - x ......(i)
And 0.12x + 0.14y = 4460 ......(ii)
Substituting (i) in (ii)
0.12x + 0.14(35000 - x) = 4460
⇒ 0.12x + 4900 - 0.14x = 4460
⇒ 0.02x = 440
⇒ x = 22000
Substitutng value of x in (i)
⇒ y = 35000 - 22000
⇒ y = 13000
Therefore, he invested Rs.22000 at 12% and Rs.13000 at 14%.
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