Discussion
R needs ₹1,50,000 as income from his investments. He deposited ₹8,00,000 in a bank which gives ₹4,500 as interest per lakh. He deposited ₹6,00,000 in the post office which gives ₹50,000 as interest and the rest in the share market. In the share market, he earns ₹1,500 for every ₹25,000. How much money did he invest in the share market?
Answer: C
R invested between Rs 10,00,000 and Rs 11,00,000 in the share market, about Rs 10.67 lakh. The bank pays Rs 4,500 per lakh, so on Rs 8 lakh it pays
\[ 8 \times 4500 = 36000 \]The post office pays Rs 50,000. The required income of Rs 1,50,000 leaves
\[ 150000 - 36000 - 50000 = 64000 \]from the share market. It pays Rs 1,500 on Rs 25,000, which is 6 percent, so the amount invested is
\[ \frac{64000}{0.06} \approx 1066667 \]This lies in the 10 to 11 lakh range and not in the other three ranges.
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