Question 13 Marks
A trust fund has ₹ 35,000 is to be invested in two different types of bonds. The first bond pays $8 \%$ interest per annum which will be given to orphanage and second bond pays $10 \%$ interest per annum which will be given to an N.G.O. (Cancer Aid Society). Use matrix multiplication, determine how to divide ₹ 35,000 among two types of bonds if the trust fund obtains an annual total interest of ₹ 3,200.
Answer
View full question & answer→Let investment in first type of bond be ₹ $x.$
$\therefore$ The investment in second type of bond = ₹ $(35,000 - x)$
$\therefore \quad\left[\begin{array}{ll}x & 35,000-x\end{array}\right]\left[\begin{array}{l}\frac{8}{100} \\ \frac{10}{100}\end{array}\right]=[3,200]$
or $\frac{8}{100} x+(35,000-x) \frac{10}{100}=3,200$
or $x=$ ₹ $15,000$
$\therefore$ Investment in first bond = ₹ $15,000$
and Investment in second bond
= ₹ $(35,000-15,000)$
= ₹ $20,000$
$\therefore$ The investment in second type of bond = ₹ $(35,000 - x)$
$\therefore \quad\left[\begin{array}{ll}x & 35,000-x\end{array}\right]\left[\begin{array}{l}\frac{8}{100} \\ \frac{10}{100}\end{array}\right]=[3,200]$
or $\frac{8}{100} x+(35,000-x) \frac{10}{100}=3,200$
or $x=$ ₹ $15,000$
$\therefore$ Investment in first bond = ₹ $15,000$
and Investment in second bond
= ₹ $(35,000-15,000)$
= ₹ $20,000$