Question

Mr. Thomas invested an amount of Rs. 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 Rs. 3508, what was the amount invested in Scheme B? [4 MARKS]

Answer 1

Concept : 1 Mark
Application : 1 Mark
Calculation : 2 Marks

Let the sum invested in scheme A be Rs. $x$ and that in scheme B be Rs. $(13900-x).$

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

$\Rightarrow 28x-22x=350800-(13900\times 22)$

$\Rightarrow 6x=45000$

$\Rightarrow x=7500.$

So, sum invested in Scheme B is

$=Rs.(13900-7500)=Rs.6400.$