A person divided an amount of Rs. 100,000 into two parts and invested in two different schemes. In one he got 10% profit and in the other he got 12%. If the profit percentages are interchanged with these investments he would have got Rs.120 less. Find the ratio between his investments in the two schemes.
Correct Answer :
47:53
Solution :
The correct option is 47:53.
Let the amount invested in the first scheme (yielding 10% profit) be Rs. and the amount invested in the second scheme (yielding 12% profit) be Rs. .
Since the total amount is Rs. 100,000, we get our first equation:
(Equation 1)
In the first case, the total profit obtained from the two investments is:
If the profit percentages are interchanged, the profit from the first scheme becomes 12% and the profit from the second scheme becomes 10%.
The new total profit is:
According to the problem, interchanging the profit percentages results in Rs. 120 less profit:
Substituting the profit equations, we get:
Simplifying the terms:
(Equation 2)
Now, let's solve Equation 1 and Equation 2 simultaneously. Adding both equations gives:
Substituting into Equation 1:
Thus, the ratio of the investments in the two schemes is:
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