An alloy of silver and gold is to be recast with an addition of silver. This new alloy consists of 80 ounces and is to have only
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<u>Solution-</u>
Let's assume, the rate of interest of $8000 is x%,
then the rate of interest of $17000 is (x+0.3x) =1.3x%
Interest earned by $8000,
Interest earned by $17,000,
According to the question,
∴ Rate of interest of $8000 is 1.96% and rate of interest of $17000 is (1.3×1.96) =2.55%