Question

A person invested 3 times as much money in a scheme giving 5% per annum simple interest than he invested in a scheme giving 2% per annum simple interest. Further, he invested Rs. 6000 more in a scheme giving 3% per annum simple interest than he invested in a scheme giving 2% per annum simple interest. If the total interest from the three investments after a year is Rs. 980, then what is the total amount he invested? Rs. 17600 Rs. 18000 Rs. 20000 Rs. 26000

Solution

The correct option is D Rs. 26000 Let the amount invested at 2% be rupees x. Given the interest from 3 investments after 1 year ∴3x×5100+2x100+(x+6000)×3100=980 20x+18,000=98,000 20x=80,000 x=4000 ∴Total amount invested=3x+x+x+6000 =5x+6000 = Rs. 26000

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