A person has Rs. 5000. He invests a part of it at 3% per annum and the remainder at 8% per annum simple interest. His total income in 3 years is Rs. 750. Find the sum invested at different rates of interest.
Correct Answer: Rs. 3000 and Rs. 2000
Explanation:
Average rate of interest = (100 * 750) / (5000 * 3) = 5% per annual
Investment at 3% per annual = 3 / (3 + 2) × 5000 = Rs. 3000 Investment at 8% per annual = 2 / (3 + 2) × 5000 = Rs. 2000
