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A man invested 31 of his income at 7% simple interest, 41 of his income at 8% simple interest, and the remainder of his income at 10% simple interest. If the total interest at the end of one year was ₹561, what was his initial income?
₹4,500
₹6,600
₹7,500
₹3,000
₹6,600
Assume total income as the LCM of denominators 3 and 4, which is 12 units, to easily calculate the invested portions and avoid fractions in intermediate steps.
Man invested 1/3 of income at 7% SI, 1/4 of income at 8% SI, and remainder at 10% SI. Total interest at end of 1 year = ₹561.
SI=100P×R×T
Assume total income as the LCM of denominators 3 and 4, which is 12 units, to easily calculate the invested portions and avoid fractions in intermediate steps.
Forgetting to calculate the remainder portion correctly: remainder = 1−31−41=125.
Step 1: Determine the Remainder Fraction
The man invests 31 of his income and 41 of his income. The remaining fraction of his income is calculated as 1−(31+41).
1−(31+41)=1−127=125
Step 2: Assume Total Income and Calculate Portions
Let the total income be ₹1200 (choosing a multiple of 3 and 4 to avoid fractions). The three parts invested are P1=400, P2=300, and P3=500.
P1=400,P2=300,P3=500
Step 3: Calculate Individual Simple Interests for 1 Year
Using the simple interest formula SI=100P×R×T for each part at rates 7%, 8%, and 10% respectively:
SI1=100400×7×1=28,SI2=100300×8×1=24,SI3=100500×10×1=50
Step 4: Find Total Interest and Scale to Actual Value
The total calculated interest is 28+24+50=102 units. Given that the actual total interest is ₹561, we find the multiplier: 102561=5.5.
Actual Income=1200×5.5=6600
B is correct because the total interest calculated on the assumed income scaled proportionally yields an initial income of ₹6,600.