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Srinivasan invests two equal amounts in two banks giving 8% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1500. Find the sum invested in each.

Rs. 5800
Rs. 15000
Rs. 7500
Rs. 17,000

Correct Answer: Rs. 7500

Explanation:

Let the sum invested be x.
⇒ 8x/100 + 12x/100 = 1500
⇒ 20x = 150000
⇒ x = 7500

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