Question

A man had Rs 1000 which he invested in two schemes. The first scheme offered an interest of 6% and the second scheme offered an interest of 9%. If the simple interest he received from both the schemes at the end of the year are equal, how much did he invest in the second scheme?

• A. Rs 600
• B. Rs 500
• C. Rs 400
• D. Rs 200

Answer 1

The correct option is C Rs 400

Let x and y be the amounts invested in scheme 1 and scheme 2.
Given that interests at the end of one year are equal and the rates of interest are 6% and 9%

So, $\frac{x\times 6\times 1}{100}=\frac{y\times 9\times 1}{100}$
$6x=9y$
$x=\frac{3}{2}y$

Total investment $=x+y=Rs1000$
$\frac{3}{2}y+y$ = Rs 1000
$\frac{5}{2}y=1000$
$y=1000\times \frac{2}{5}=Rs400$
Hence the amount invested in scheme 2 is Rs 400.