Question

Mr. Thomas invested an amount of ₹ 13,900 divided in 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. ₹ 6400
• B. ₹ 6500
• C. ₹ 7500
• D. None of these

Answer 1

The correct option is A

₹ 6400

Let the investment in scheme A be ₹ x.
and the investment in scheme B be ₹ (13900 - x)

We know that S.I. = $\frac{PRT}{100}$

where, S.I. is the simple interest, P is the principal, R is the rate of interest per annum and T is the time(number of years).

Simple Interest for ₹ x in 2 years at 14% p.a. = $\frac{(x\times 14\times 2)}{100}=\frac{28x}{100}$
Simple Interest for ₹ (13900 - x) in 2 years at 11% p.a. = $\frac{(13900-x)\times 11\times 2}{100}$
= $\frac{22(13900-x)}{100}$
Given, total interest = ₹ 3,508
$\left(\frac{28x}{100}\right)+\left(\frac{22(13900-x)}{100}\right)=3508$
$28x+305800-22x=350800$
$6x=45000$
$x=\frac{45000}{6}$ = ₹ 7500
Investment in scheme B = ₹ 13900 – ₹ 7500 = ₹ 6400.