A sum of Rs. 1500.00 was put in two companies, one paid 6% simple interest and the other 5%. The whole annual interest from the two companies was Rs.85.00. What is the sum invested in the first company?

A sum of Rs. 1500.00 was put in two companies, one paid 6% simple interest and the other 5%. The whole annual interest from the two companies was Rs.85.00. What is the sum invested in the first company? Correct Answer Rs. 1000

Let the investments be F and (1500 - F) Rs. in the companies respectively. Interest, I = P n r Now, F × 1 × 6/100 + (1500 - F) × 1 × 5/100 = 85 or, 6F + 7500 - 5F = 8500 [multiplying both sides by 100] or, F = 8500 - 7500 or, F = 1000 Rs.
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