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. ₹6500
• B. ₹7500
• C. ₹6400
• D. ₹7000

Answer 1

The correct option is C

₹6400

Let the investment in scheme A be ₹ x.
and the investment in scheme B be ₹$13900-x$
We know that $SI=\frac{PRT}{100}$
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. $=\frac{\left\{\right(13900-x)\times 11\times 2\}}{100}$
$=\frac{\left\{22\right(13900-x\left)\right\}}{100}$
Total interest = ₹350828
$\left(\frac{28x}{100}\right)+\left(\frac{22(13900-x)}{100}\right)=3508$
28x + 305800 - 22x = 350800
6x = 45000
$x=\frac{45000}{6}$ = ₹7500
Investment in scheme B = ₹13900 – ₹7500 = ₹6400.