A person invested a total amount of Rs 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is Rs 76,000 then the amount (in Rs lakh) invested in the fixed deposit was
Explanation:
Since the amount invested is in the ratio 2 : 1, we can assum the amout to be 2x and x respectively.
∴ Amount invested in fixed deposit = 15L − 3x (where L is lakhs)
Simple interest earned on the fixed deposit = [(15L − 3x) × (6/100) × 1] ...(1)
Simple interest earned on 2x principle = 2x × (4/100) × 1 ...(2)
Simple interest earned on x principle = x × (3/100) × 1 ...(3)
(1) + (2) + (3) = 76000.
Solving we get; x = 2L.
So, amount invested in fixed deposit = 15L − 3x = 15L − 6L = 9L.
Hence, 9.
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