Sakshi invests a part of Rs. 12,000 in 12% stock at Rs. 120 and the remainder in 15% stock at Rs. 125. If his total dividend per annum is Rs. 1360, how much does he invest in 12% stock at Rs. 120?
Rs. 4000
Rs. 4500
Rs. 5500
Rs. 6000
Explanation:
Let investment in 12% stock be Rs. $ x $.
Then, investment in 15% stock = Rs.$\left (12000 - x\right)$.
| $\therefore \dfrac{12}{120} \times x $ +$ \dfrac{15}{125} \times \left(12000 - x \right)$ = 1360. |
| $\Rightarrow \dfrac{x}{10} $+$ \dfrac{3}{25} \left(12000 - x\right)$ = 1360. |
$\Rightarrow$ 5$ x $ + 72000 - 6$ x $ = 1360 x 50
$\Rightarrow x $ = 4000.