A) 2%
C) 10.7%
D) 12%
Income from 4000 at 5 % in one year = 4000 of 5 %.
= 4000 × 5/100.
= 200.
Income from 3500 at 4 % in one year = 3500 of 4 %.
= 3500 × 4/100.
= 140.
Total income from 4000 at 5 % and 3500 at 4 % = 200 + 140 = 340.
Remaining income amount a yearly income of 500=500 – 340.= 160.
Total invested amount = 4000 + $ 500 = 7500.
Remaining invest amount = 10000 – 7500 = 2500.
We know that, Interest = Principal × Rate × Time
Interest = 160,
Principal = 2500,
Rate = r [we need to find the value of r],
Time = 1 year.
160 = 2500 × r × 1.
160 = 2500r
160/2500 = 2500r/2500
0.064 = r
r = 0.064
Change it to a percent by moving the decimal to the right two places r = 6.4 %
Therefore, he invested the remaining amount $ 2500 at 6.4 % in order to get 500 income every year.
- If A’s income is 40% less than B’s income, then how much percent is B’s income more than A’s income?
- The average monthly income of P and Q is Rs. 5050. The average monthly income of Q and R is Rs. 6250. The average monthly income of P and R is Rs. 5200. What will be the monthly income of P?
- A sum of Rs.12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?
- A man spends 35% of his income on food, 25% on children’s education and 80% of the remaining on house rent. What percent of his income he is left with?