Question
A man invests a certain sum of money at 6% per annum simple interest and another sum at 7% per annum simple interest. His income from interest after 2 years was Rs. 354. One-forth of the first sum is equal to one-fifth of the second sum. The total sum invested was:
Answer: Option B
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Let the sums be X and Y.
X x 6 x 2
+
y x 7 x 2
= 354 or 6X + 7y = 17700.
...(i)
100
100
Also,
x
=
y
or 5X - 4y = 0
...(ii)
4
5
Solving (i) and (ii), we get : x = 1200 and y = 1500.
Total sum = Rs. 2700.
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