A man invests ₹ 3000 at the rate of 5% per annum. How much more should he invest at the rate of 8%, so that he can earn a total of 6% per annum?
Correct Answer: ₹ 1500
Explanation:
Let the extra money invested = ₹ P
According to the question .
(3000 x 5 x 1)/100 + (P x 8 x 1)/100 = [(3000 + P) x 6 x 1)]/100
⇒ 15000 + 8P = 18000 + 6P
⇒ 2P = 18000 - 15000
∴ P = 3000/2 = ₹ 1500
