In 2000, a part of Rs. 30 lakhs was invested in Company P...
Two different finance companies declare fixed annual rate of interest on the amounts invested with them by investors. The rate of interest offered by these companies may differ from year to year depending on the variation in the economy of the country and the banks rate of interest. The annual rate of interest offered by the two Companies P and Q over the years are shown by the line graph provided below.
Annual Rate of Interest Offered by Two Finance Companies Over the Years.
In 2000, a part of Rs. 30 lakhs was invested in Company P and the rest was invested in Company Q for one year. The total interest received was Rs. 2.43 lakhs. What was the amount invested in Company P?
Rs. 9 lakhs
Rs. 11 lakhs
Rs. 12 lakhs
Rs. 18 lakhs
Correct answer is D
Let Rs. x lakhs be invested in Company P in 2000, the amount invested in Company Q in 2000 = Rs. (30 - x) lakhs.
Total interest received from the two Companies after 1 year
= Rs. [(7.5% of x) + {9% of (30 - x)}] lakhs
= Rs. [ 2.7 - ( 1.5x/100 ) ] lakhs.
Therefore [ 2.7 - ( 1.5x/100 ) ] = 2.43 => x = 18.
Similar Questions
In case of which battery was there a continuous decrease in sales from 1992 to 1997? ...
What was the percentage increase in production of fertilizers in 2002 compared to that in 1995? ...
Which institute has the highest percentage of candidates who passed to the candidates enrolled? ...
If the profit in 1999 was Rs. 4 crores, what was the profit in 2000? ...
Which country accounts for higher earning out of Services and Miscellaneous together ? ...
Among the given years, the largest number of students joined the school in the year? ...