Use matrix multiplication to divide rs. 30,000 in two parts such that the total annual interest at 9% on the first part and 11% on the second part amounts rs. 3060.

Let the two parts be Rs. *x *and Rs. (30000 – *x*) respectively. Let A be the 1 × 2 matrix representing these two parts

Let R denote the 2 × 1 matrix representing the annual interest rates of interest on two parts i.e.

The total annual interest on the two parts is given by the matrix multiplication AR.

Hence two parts of Rs 30,000 are Rs 12,000 and Rs. 18,000 respectively.

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