Masood invests a part of Rs. 12000 in 12% stock at Rs. 120 and the remainder in 15% stock at Rs. 125. If his total dividend per annum is Rs. 1360, how much does he invest in 12% stock at Rs. 120?
Q1. Masood invests a part of Rs. 12000 in 12% stock at Rs. 120 and the remainder in 15% stock at Rs. 125. If his total dividend per annum is Rs. 1360, how much does he invest in 12% stock at Rs. 120?
Answer: Rs4,000
Explanation: Let x be invested in 12% stock at Rs.120; dividend = x × (12/120) = 0.1x. The rest earns (12000−x) × (15/125) = 0.12(12000−x). Setting total = 1360: 0.1x + 1440 − 0.12x = 1360, so x = Rs.4000.