Armaan invested \(\frac{1 }{8}\) of a certain sum at 5% p.a. for two years and \(\frac{3 }{5}\) of the sum at 6% p.a. for two years and the remaining at 10% p.a. for two years. If the total interest received is Rs. 1674, then the total sum invested is:
Answer & explanation
Correct answer: option 3
Total interest = \(\frac{P×5×2}{100×8}\) + \(\frac{3P×6×2}{100×5}\) + \(\frac{11P×10×2}{100×40}\) = 1674
⇒ \(\frac{558P}{40}\) = 167400
⇒ Sum = 12000