A man invested some part of Rs. 10,000 in ICICI bank at the rate of 10% interest per annum and rest of the money in SBI bank at the rate of 20% per annum. At the end of the year he received total Rs. 1200 as interest. Find the amount he invested in ICICI bank.
Answer & explanation
Correct answer: option 3
Total rate of interest = \(\frac{1200}{10,000}\) × 100 = 12%
By using allegation method:
ICICI SBI
Rate: 10% 20%
12%
Principal: 8 : 2
4 : 1 ⇒ 5R → 10,000 (given)
So, invested in ICICI = 4R → \(\frac{10,000}{5}\) × 4 = 8000