A sum of ₹25600 is invested on simple interest partly at 7% per annum and the remaining at 9% per annum. The total interest at the end of 3 years is ₹5832. How much money (in ₹) was invested at 9% per annum?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e 7600.
Let the amount invested at 7% per annum be 'x' then the amount invested at 9% will be '25600 - x'.
Simple Interest = (Principal × Interest rate × time)/100
⇒ 5832 = (x × 3 × 7)/100 + ((25600 - x) × 3 × 9)/100
⇒ 1944 = 7x/100 + 9(25600 - x)/100
⇒ -2x/100 = -360
⇒ x = 18000
Amount invested at 9% will be 25000 - 18000
⇒ Rs 7600