Hello,
The answer to your question will be solved in the following manner:
Lets assume that the person invests "x" amount in the first part, then the remaining amount will be "50000- x" since the whole amount is 50000. Now we have investment amounts for both parts i.e. "x" for the first part and "50000- x" for the second part.
We know that the interest rates on the respective parts are 10% and 12%. So that will amount to 0.1 and 0.12 respectively.
The total amount of interest should result in 5600 so we have to form matrix in such a way that at the end of the year we get 5600 interest rate from 50000 invested.
The answer will be as follows: M
Matrix A = [x 50000- x]
Matrix B = [0.1
0.12]
Solving the matrix we get
[x 50000-x ] * [0.1 = 5600
[x * 0.1+ (50000-x)*0.12] = 5600
0.1x + 6000- 0.12x = 5600
0.02x = 400
x = 20000
Therefore the investment in first part will be20000 and investment in second part will be 50000-20000=30000.
Final answer will be 20000 and 30000 .
Hope it helps!
Question : A sum of Rs. 6000 is divided into two parts. The annual simple interest on the first part at the annual rate of 10% is equal to the annual simple interest on the second part at the annual rate of 15%. How much is the interest on each part for one year?
Option 1: Rs. 300
Option 2: Rs. 330
Option 3: Rs. 360
Option 4: Rs. 420
Question : A person invested Rs. 12,000 on simple interest for 7 years to obtain a total amount of Rs. 20,400 on a certain annual rate of interest. What was the rate of interest to obtain the above amount?
Option 1: 7%
Option 2: 9%
Option 3: 8%
Option 4: 10%
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