Study the following graph to answer these questions
Three different finance companies declare fixed annual rate of interest on the amount invested with them by investors. The rate of interest offered by these companies may differ from year to year depending on the variation in the economy of the country and the banks rate of interest. The annual rate of interest offered by the three companies P, Q, and R over the year are shown by the line-graph provided below.
Annual Rate of Interest Offered by three Finance
Companies Over the Years
In 2010, a part of ₹ 30 lakh was invested in company P and the rest was invested in companies Q and R for one year. The total interest, received was ₹ 2.43 lakh. What was the amount invested in company P?
Let Rs. x lakhs be invested in Company P in 2010, the amount invested in Company Q in 2010 = Rs. (30 - x) lakhs.
Total interest received from the two Companies after 1 year = 2.43 =
= Rs. [(7.5% of x) + {9% of (30 - x)}] lakhs
Solving for x, we get
x = 18 lakhs
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