Multiple choice

Ankit invested Rs. 1500 in two different banks for two years. Rate of investment per annum was 5% in the first bank and 6% in the second bank. He got Rs. 160 as the total interest. Find the respective amounts given at 5% and 6% per annum simple interest.

  1. Rs. 950 and Rs. 550

  2. Rs. 1000 and Rs. 500

  3. Rs. 900 and Rs. 600

  4. Rs. 800 and Rs. 700
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let x be the amount at 5% and (1500-x) be the amount at 6%. Interest = (x*0.05*2) + ((1500-x)*0.06*2) = 160. 0.1x + 180 - 0.12x = 160. -0.02x = -20. x = 1000. The amounts are 1000 and 500.

AI explanation

Let the amount invested at 5% be x, meaning Rs. (1500 - x) is invested at 6%. The simple interest formula I = (P * R * T) / 100 yields the equation (x * 5 * 2) / 100 + ((1500 - x) * 6 * 2) / 100 = 160. Multiplying by 100 gives 10x + 18000 - 12x = 16000, so 2x = 2000 and x equals 1000. The respective amounts invested are Rs. 1000 and Rs. 500.

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