Alex invested his savings in two parts. The simple interest earned on the first part at 15% per annum for 4 years is the same as the simple interest earned on the second part at 12% per annum for 3 years. Then, the percentage of his savings invested in the first part is
Question:
Alex invested his savings in two parts. The simple interest earned on the first part at 15% per annum for 4 years is the same as the simple interest earned on the second part at 12% per annum for 3 years. Then, the percentage of his savings invested in the first part is
Alex invested his savings in two parts. The simple interest earned on the first part at 15% per annum for 4 years is the same as the simple interest earned on the second part at 12% per annum for 3 years. Then, the percentage of his savings invested in the first part is
Options
Answer: 37.5%
Explanation:
Let the total savings be P. Let the first part = xP and the second part = (1 - x)P. Simple interest on the first part = xP × (15/100) × 4 = 0.6xP Simple interest on the second part = (1 - x)P × (12/100) × 3 = 0.36(1 - x)P Given that both interests are equal: 0.6xP = 0.36(1 - x)P Simplify: 0.6x = 0.36 - 0.36x 0.96x = 0.36 x = 0.36 / 0.96 = 3/8 Percentage of savings invested in the first part = (3/8) × 100 = 37.5% Final Answer: 37.5%
Explanation:
Let the total savings be P. Let the first part = xP and the second part = (1 - x)P. Simple interest on the first part = xP × (15/100) × 4 = 0.6xP Simple interest on the second part = (1 - x)P × (12/100) × 3 = 0.36(1 - x)P Given that both interests are equal: 0.6xP = 0.36(1 - x)P Simplify: 0.6x = 0.36 - 0.36x 0.96x = 0.36 x = 0.36 / 0.96 = 3/8 Percentage of savings invested in the first part = (3/8) × 100 = 37.5% Final Answer: 37.5%
👉 Want AI explanation? Open in MCQ App
Recommended articles
- How To Cover Current Affairs For Upsc Prelims — Master UPSC Current Affairs with daily newspaper reading, Vision IAS monthly compilations, PT 365, and MCQ practice. Complete strategy guide for Prelims…
- Top 10 Daily Current Affairs Resources For Upsc Aspirants — Discover the best daily current affairs resources for UPSC 2026. Complete guide with The Hindu, PIB, Sansad TV, and 7 more proven sources. Expert…
- Free Cat Previous Year Questions Guide — Master CAT 2025 with free previous year questions. Practice 1000+ PYQs, mock tests, and detailed solutions. Complete guide to CAT preparation using past…