A person invested one third of his capital at 7 percent, one fourth of his capital at 8 percent and the remainder at 10 percent. If his total annual income from the investment is Rs. 561, then what is the total investment made by the person?
A6600 ✓ Correct
B6500
C7000
D5500
Correct answer: (A) 6600
Explanation
The total investment is Rs. 6600.
Let capital be C; the remainder 1 - 1/3 - 1/4 = 5/12 is at 10%.
Income = C(1/3 x 7 + 1/4 x 8 + 5/12 x 10)/100.
Income rate = 7/3 + 2 + 50/12 = 8.5% of C.
0.085C = 561 gives C = 561/0.085 = Rs. 6600.
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