A person invests some money in two parts in the ratio 13 : 11. The rate of interest on 1st investment is 17% and the rate of interest on total investment is 22.5%. If simple interest received on 2nd investment is Rs.7975, then find his total investment (in Rs.).
Answer & explanation
Correct answer: option 3
P (total investment) = P1 + P2
P₂ x 29% = 7975 (Given)
P₂ = 27500
Now,
P1 : P2 = P
13 : 11 = 24
P2 = 11a = 27500
⇒ a = 2500
P = 24a = 24 x 2500 = 60,000