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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:
(ii) Rs. 2000
Answers (1)
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
(simple interest for 1 year
)
Thus, to obtain an annual total interest of Rs. 2000, the trust fund should invest Rs 5000 in the first bond and Rs 25000 in the second bond.
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