Question

Karan invested money in two schemes A and B offering compound interest at 8% per annum compounded annually and 9% per annum compounded annually. If the total amount of interest accrued through two schemes together in two years was Rs.4818.30 and the total amount invested was Rs.27,000, what was the amount invested in Scheme A?

• A. Rs.12000
• B. Rs.13000
• C. Rs.14000
• D. Rs.15000
• E. Rs.16000

Answer 1

The correct option is A

Rs.12000

Let the investment in scheme A be Rs.x

Then the investment in scheme B = Rs.27000 – x

$x\times ({(1+\frac{8}{100})}^2-1)+(27000-x)\times ({(1+\frac{9}{100})}^2-1)$

x = 12000