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An amount of 1000 has to be divided into two funds, one offering 16% returns and the...
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The total amount that has to be invested is 1000. There are two funds in which the money can be invested, one of them gives returns of 16% and the other gives returns of 10%.
Let the amount invested in the fund offering 16% returns be X, the amount invested in the other fund is 1000 - X.
0.16*X + 0.10*(1000 - X) = 0.12*1000
=> 0.16*X + 100 - 0.1*X = 120
= 0.06*X - 20
=> X = 20/0.06
=> X = 333.34
An amount equal to 333.33 should be invested in the fund offering 16% and the remaining amount of 666.67 should be invested in the fund offering 10% returns.
Posted by justaguide on September 3, 2013 at 4:52 PM (Answer #1)
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