Mike has a total amount of INR 2,70,000. He invested a part of it at t

1.	Mike has a total amount of INR 2,70,000. He invested a part of it at the simple interest rate of 15% p.a. andanother part at 20% p.a.If after 3 years he got a total interest of INR 1,39,500, what is the amount he invested at both the places?
Answer» Given : TOTAL amount = ₹2,70,000 Time = 3 years Rate = 15% & 20% Total Intrest = ₹1,39,500 <P> Let : ✪ For Rate = 15% p.a. Principal = P Interest = I ✪ For Rate = 20% p.a. Principal = P' Interest = I' Formula used : ✪ I = P×r×t Solution : P + P' = 270000 P' = 270000 - P ...... EQUATION 1 I + I' = 139500.......... equation 2 ✪ For Rate = 15% ➮ I = P ×(15/100)× 3 ➮ I = 0.45 P ....... equation 3 ✪ For Rate = 20% ➮ I' = P' × (20/100)×3 ➮ I' = 0.6P' .......... equation 4 ✪ Adding equation, 3 & 4 , we get; ➮ I + I' = 0.45P + 0.6P' Putting VALUE of (I+I') & P' from equation 2 & 1 respectively, we get; ➮ 139500 = 0.45P + 0.6(270000 - P) ➮ 139500 = 0.45P + 162000 - 0.6P ➮ 0.6P - 0.45P = 162000 - 139500 ➮ 0.15P = 22500 ➮ P = 22500 ÷ 0.15 ➮ P = ₹ 1,50,000 ✪ Putting value of P in equation 1, we get; ➮ P' = ₹2,70,000 - ₹1,50,000 ➮ P' = ₹1,20,000 ANSWER : ✪ Amount invested in rate = 15% p.a. ➮ INR 1,50,000 ✪ Amount invested in rate = 20% p.a. ➮ INR 1,20,000

Mike has a total amount of INR 2,70,000. He invested a part of it at the simple interest rate of 15% p.a. andanother part at 20% p.a.If after 3 years he got a total interest of INR 1,39,500, what is the amount he invested at both the places?

Answer»

Given :

TOTAL amount = ₹2,70,000
Time = 3 years
Rate = 15% & 20%
Total Intrest = ₹1,39,500

<P>

Let :

✪ For Rate = 15% p.a.

Principal = P
Interest = I

✪ For Rate = 20% p.a.

Principal = P'
Interest = I'

Formula used :

✪ I = P×r×t

Solution :

P + P' = 270000
P' = 270000 - P ...... EQUATION 1

I + I' = 139500.......... equation 2

✪ For Rate = 15%

➮ I = P ×(15/100)× 3

➮ I = 0.45 P ....... equation 3

✪ For Rate = 20%

➮ I' = P' × (20/100)×3

➮ I' = 0.6P' .......... equation 4

✪ Adding equation, 3 & 4 , we get;

➮ I + I' = 0.45P + 0.6P'

Putting VALUE of (I+I') & P' from equation 2 & 1 respectively, we get;

➮ 139500 = 0.45P + 0.6(270000 - P)

➮ 139500 = 0.45P + 162000 - 0.6P

➮ 0.6P - 0.45P = 162000 - 139500

➮ 0.15P = 22500

➮ P = 22500 ÷ 0.15

➮ P = ₹ 1,50,000

✪ Putting value of P in equation 1, we get;

➮ P' = ₹2,70,000 - ₹1,50,000

➮ P' = ₹1,20,000

ANSWER :

✪ Amount invested in rate = 15% p.a. ➮ INR 1,50,000

✪ Amount invested in rate = 20% p.a. ➮ INR 1,20,000