Home
Class 14
MATHS
A person invested a total sum of Rs. 790...

A person invested a total sum of Rs. 7900 in three different schemes of simple interset at 3% 5% and 8% per annum. At the end of one year he got same interset in all three schemes. What is the money (in Rs.) invested at 3% ?

A

2900

B

3500

C

4000

D

5600

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, we will denote the amounts invested in the three different schemes as follows: Let: - \( P_1 \) = amount invested at 3% per annum - \( P_2 \) = amount invested at 5% per annum - \( P_3 \) = amount invested at 8% per annum According to the problem, the total investment is Rs. 7900: \[ P_1 + P_2 + P_3 = 7900 \quad \text{(1)} \] We also know that the interest earned from all three investments is the same at the end of one year. The formula for simple interest is: \[ \text{Simple Interest} = \frac{P \times R \times T}{100} \] where \( P \) is the principal amount, \( R \) is the rate of interest, and \( T \) is the time in years. Since the time \( T \) is 1 year for all investments, we can express the interest for each scheme as follows: - Interest from the 3% scheme: \[ I_1 = \frac{P_1 \times 3 \times 1}{100} = \frac{3P_1}{100} \] - Interest from the 5% scheme: \[ I_2 = \frac{P_2 \times 5 \times 1}{100} = \frac{5P_2}{100} \] - Interest from the 8% scheme: \[ I_3 = \frac{P_3 \times 8 \times 1}{100} = \frac{8P_3}{100} \] Since the interest from all three schemes is the same, we can set them equal to each other: \[ \frac{3P_1}{100} = \frac{5P_2}{100} = \frac{8P_3}{100} \] To eliminate the fraction, we can multiply through by 100: \[ 3P_1 = 5P_2 \quad \text{(2)} \] \[ 3P_1 = 8P_3 \quad \text{(3)} \] From equation (2), we can express \( P_2 \) in terms of \( P_1 \): \[ P_2 = \frac{3P_1}{5} \quad \text{(4)} \] From equation (3), we can express \( P_3 \) in terms of \( P_1 \): \[ P_3 = \frac{3P_1}{8} \quad \text{(5)} \] Now we can substitute equations (4) and (5) into equation (1): \[ P_1 + \frac{3P_1}{5} + \frac{3P_1}{8} = 7900 \] To combine these terms, we need a common denominator. The least common multiple of 5 and 8 is 40. Thus, we rewrite the fractions: \[ P_1 + \frac{24P_1}{40} + \frac{15P_1}{40} = 7900 \] \[ P_1 + \frac{39P_1}{40} = 7900 \] Now, we can express \( P_1 \) as: \[ \frac{40P_1 + 39P_1}{40} = 7900 \] \[ \frac{79P_1}{40} = 7900 \] Multiplying both sides by 40: \[ 79P_1 = 316000 \] Now, divide by 79: \[ P_1 = \frac{316000}{79} = 4000 \] Thus, the amount invested at 3% is: \[ P_1 = 4000 \] ### Final Answer: The money invested at 3% is Rs. 4000.
Promotional Banner

Topper's Solved these Questions

  • SIMPLE INTERSET

    KIRAN PUBLICATION|Exercise TYPE - VI|51 Videos
  • SIMPLE INTERSET

    KIRAN PUBLICATION|Exercise TEST YOURSELF|25 Videos
  • SIMPLE INTERSET

    KIRAN PUBLICATION|Exercise TYPE - IV|18 Videos
  • SEQUENCE AND SERIES

    KIRAN PUBLICATION|Exercise TEST YOURSELF |20 Videos
  • SIMPLIFICATION

    KIRAN PUBLICATION|Exercise TEST YOURSELF|25 Videos

Similar Questions

Explore conceptually related problems

A person invested a total sum of Rs. 7900 in three different schemes of simple interest at 3%, 5% and 8% per annum. At the end of one year he got same interest in all three schemes. What is the money (in Rs.) invested at 3%?

A person invested in all ₹2600 at 4%.6% and 8% per annum simple interest. At the end of the year. he got the same interest in all the three cases. The money invested at 4% is :

A person invested in all 2600 at 4%, 6% and 8% per annum simple interest. At the end of the year, he got the same interest in all the three cases. The money invested at 4% is:

A person divided a sum of 17,200 into three parts and invested at 5%, 6% and 9% per annum simple interest. At the end of two years, he got the same interest on each part of money. What is the money invested at 9%?

A person invested three different amounts at 3%, 5% and 6% per annum at simple interest. At the end of the year, he received the same interest in each case. If ther person's net investment is Rs 4200, then the money invested at 5% is………………..

A person invested a sum of Rs. 25,000 partly at 10% per annum simple interset and the rest at 12% per annum simple interset At the end of 2 years, the total interset received was Rs 5,640. The difference (in Rs) between the two parts of the sum is :