Rahul invested 50% of his money at 13% per annum and rest at 19% per annum. What would be the annual rate of interest, if the interest is calculated on the whole sum?
1). 16.5%
2). 15.6%
3). 16%
4). 15%
Let the total amount is Rs. 100
50% of 100 = 50 and Rest amount = 50
According to the question,
R = (13% of 50 + 19% of 50)/100 × 100
⇒ R = (6.5 + 9.5)/100 × 100
⇒ R = 16%