A man invests a total sum of 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 to him in two years equals 2,400, the sum invested at 15% simple interest per annum is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Rs. 4,000
Given that
Invested amount of a man in a company = Rs. 10000
Let x part of his sum invested at 10% per annum simple interest
The remaining part (10000 - x) invested at 15 % p.a. simple interest
Total interest in 2 years = Rs. 2400
Formula used
S.I. = PRT/100
where, P = sum invested, R = rate of interest p.a., T = time
According to the question
⇒ x × 10 × 2/100 + (10000 - x) × 15 × 2/100 = 2400
⇒ 20x + 300000 - 30x = 240000
⇒ 10x = 60000
⇒ x = Rs. 6,000
Hence, the sum invested at the rate of 15% p.a. = 10000 - 6000 = Rs. 4000