Question : A man invests a total sum of INR 10,000 in a company. A part of the sum was invested at 10% simple interest per annum and the remaining part, at 15% simple interest per annum. If the total interest accrued in two years equals INR 2,400, the sum invested at 15% simple interest per annum is:
Option 1: INR 8000
Option 2: INR 4000
Option 3: INR 6000
Option 4: INR 5000
Correct Answer: INR 4000
Solution :
Let the sum invested at 15% be $x$ and the sum invested at 10% be (10000 – $x$).
Time = 2 years
According to the question:
$2400 =\frac{x×15×2}{100}$+$\frac{(10000-x)×10×2}{100}$
⇒ $2400 =\frac{30x}{100}$+$\frac{(200000-20x)}{100}$
⇒ $2400 = \frac{30x+200000-20x}{100}$
⇒ $240000 = 10x + 200000$
⇒ $40000 = 10x$
⇒ $x = 4000$
Hence, the correct answer is INR 4000.
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