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He spends one-third of his income on personalexpenditure.

Half of the remaining income is invested in a scheme for 15% interest perannum.

After investing half of the remaining income is invested in a scheme which gives 10% income perannum.

The remaining lies in a bank where it earns an interest of 4% perannum.

The effective rate of interest earned by the man on his investments by the end of the year is

Ritesh Phogat

- Level 3
- 33 %

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1. 16000/2=8000 SI=PRT/100=8000*15*1/100=1200

2. 8000/2=4000 SI=4000*10*1/100=400

3. 4000 SI=4000*4*1/100=160

adding total interest=1200+400+160=1760

SI=PRT/100 1760=16000*R*1/100

Solving this R=11%