Question

Ashin invested an amount of ₹13,900 divided into two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be ₹3508, what was the amount invested in Scheme B?

• A. ₹6500
• B. ₹6400
• C. ₹7000
• D. ₹3500

Answer 1

The correct option is B ₹6400

Let the sum invested in Scheme A be ₹x and that in Scheme B be ₹(13900 - x).

Then

$\frac{14\times x\times 2}{100}$ + $\frac{(13900-x)\times 11\times 2}{100}$=3508

$\frac{28x+13900\times 22-22x}{100}$= 3508

$28x+13900\times 22-22x=3508\times 100$

28x - 22x = 350800 - (13900 × 22)

6x = 45000

x = 7500

So, sum invested in Scheme B = ₹(13900 - 7500) = ₹6400