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  • A trust fund has 30,000 that must be invested in two different types of bonds. The first bond pays 5% interest per year, and the second bond pays 7% interest per year. Using matrix multiplication, determine how to divide 30,000 among the two: (i) Rs. 1800

Q19.    A trust fund has Rs. 30,000 that must be invested in two different types of bonds. The first bond pays 5% interest per year, and the second bond pays 7% interest per year. Using matrix multiplication, determine how to divide Rs 30,000 among the two types of bonds. If the trust fund must obtain an annual total interest of:

 (a) Rs. 1800

Answers (1)

best_answer

Let Rs. x be invested in the first bond.

Money invested in second bond = Rs (3000-x)

The first bond pays 5% interest per year and the second bond pays 7% interest per year.

To obtain an annual total interest of  Rs. 1800,  we have

\begin{bmatrix}x &(30000-x) \end{bmatrix} \begin{bmatrix} \frac{5}{100} \\ \frac{7}{100} \end{bmatrix}  =1800                       (simple interest for 1 year =\frac{pricipal\times rate}{100} )

\frac{5}{100}x+\frac{7}{100}(30000-x) = 1800

5x+210000-7x=180000

210000-180000=7x-5x

 30000=2x

x=15000

Thus, to obtain an annual total interest of  Rs. 1800, the trust fund should invest Rs 15000 in the first bond and Rs 15000 in the second bond.

 

 

 

 

 

 

Posted by

seema garhwal

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