Question

Mr. Batra invested an amount of Rs. 16500 in two different mutual funds A and B at the simple interest rate of 15% p.a. and 10% p.a. respectively. If the total amount of simple interest earned in 2 years is Rs. 3600, what was the amount invested in scheme B?

• A. $Rs.13400$
• B. $Rs.13500$
• C. $Rs.14000$
• D. $Rs.14400$

Answer 1

The correct option is B

$Rs.13500$

Let the sum invested in scheme A be Rs. $x$ and that in scheme B be Rs. $(16500-x).$

Then,
$\frac{x\times 15\times 2}{100}+\frac{(16500-x)\times 10\times 2}{100}=3600$

$\Rightarrow 30x-20x=360000-(16500\times 20)$

$\Rightarrow 10x=30000$

$\Rightarrow x=3000$

So, sum invested in Scheme B is

$=Rs.(16500-3000)=Rs.13500$