A person invested a total sum of Rs. 15,500 in three different schemes of simple interest at the annual rate of 4 percent, 6 percent and 10 percent. At the end of one year he got same interest in all three schemes. What is the sum invested at the rate of 6 percent ?
Answer & explanation
Correct answer: option 2
Total Sum = Rs 15500
15500 is invested into 3 different schemes i.e. at 4%, 6% and 10% p.a. respectively for 1 year
P1 = x , P2 = y , P3 = z (P=Principal)
ATQ,
I1=I2=I3
\(\frac{P1×R1×T1}{100}\) = \(\frac{P2×R2×T2}{100}\) = \(\frac{P3×R3×T3}{100}\)
\(\frac{x×4×1}{100}\) = \(\frac{y×6×1}{100}\) = \(\frac{z×10×1}{100}\)
4x = 6y = 10z
∴ \(\frac{x}{15}\) = \(\frac{y}{10}\) = \(\frac{z}{6}\)
ATQ
P1+P2+P3 = 15500
15+10+6 = 15500
31 part = 15500
1 part = 500
Sum invested at 6% pa = 10 part
1 = 500
100 = 10 × 500
= Rs 5000