S deposits a total of ₹50,000 in two accounts which give 8% and 12% simple interest annually, respectively. After one year, he gets a total ₹5,200. How much money does he deposit in the account with a 12% interest rate?

Question

Question

This question was previously asked in

SSC CGL 2023 Tier-I Official Paper (Held On: 25 Jul 2023 Shift 4)

Answer 1

Given:

Principal (P) = Rs.50,000

First rate = 8%; second rate = 12%

Total simple interest (S.I) = Rs.5200

Formula used:

Simple interest (S.I) = (P × R × T)/100

Where P = principal; R = rate; T = time

Calculation:

Let the amount at 12% rate = x

then amount at 8% rate = (50,000 - x)

According to the question:

⇒ (50,000 - x) × 8% + x × 12% = 5200

⇒ (50,000 × 8%) - (x × 8%) + (x × 12%) = 5200

⇒ (x × 4%) = 5200 - 4000

⇒ x = (1200 × 100)/4 = Rs.30000

∴ The correct answer is Rs.30000.

Shortcut TrickCalculation:

Overall rate = (5200 × 100)/50000 = 52/5 = 10.4%

Now

Amount at 8% : Amount at 12% = 1.6 : 2.4

⇒ 2 : 3

⇒ 5 units = 50000

⇒ 3 units = (50000 × 3)/5 = Rs.30000

∴ The correct answer is Rs.30000.