A man has Rs. 10,000 to invest. He invests Rs. 4,000 at 5% and Rs. 3,500 at 4%. To have a total yearly income of Rs. 500, at what rate must he invest the remaining Rs. 2,500?
Q1. A man has Rs. 10,000 to invest. He invests Rs. 4,000 at 5% and Rs. 3,500 at 4%. To have a total yearly income of Rs. 500, at what rate must he invest the remaining Rs. 2,500?
Answer: 6.40%
Explanation: Income from the first two investments = Rs. 200 + Rs. 140 = Rs. 340; the remaining Rs. 160 must come from Rs. 2500, requiring a rate of 160/2500 × 100 = 6.4%.