Question 16.
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
Question Explanation
Assuming the amount invested in the ratio 2:1 was 200x and 100x, then the fixed deposit investment = 1500000-300x
Hence, the interest = 200x*4/100 = 8x and 100x*3/100=3x
Interest from the fixed deposit = (1500000-300x)*6/100 = 90000-18x
Hence the total interest = 90000-18x+8x+3x=90000-7x =76000
=> 7x=14000 => x=2000
Hence, the fixed deposit investment = 1500000-300*2000 = 900000 = 9 lakhs
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