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.
How many students of institutes of M and S are studying at graduate level? ...
Which section has the maximum pass percentage in at least one of the two examinations? ...
What percentage of proteins of the human body is equivalent to the weight of its skin ? ...
What is the ratio of candidates who passed to the candidates who enrolled from institute P? ...
Total sales of branches B1, B3 and B5 together for both the years (in thousand numbers) is? ...