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?

• A. Rs.6400
• B. Rs.6500
• C. Rs.7500
• D. None of these

Answer 1

The correct option is A Rs.6400

Let the investment in scheme A be Rs. x.
and the investment in scheme B be Rs.(13900 - x)
We know that $SI=\frac{PRT}{100}$
Simple Interest for Rs. x in 2 years at $14\%p.a=\frac{(x\times 14\times 2)}{100}=\frac{28x}{100}$
Simple Interest for Rs. (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 = Rs. 350828
$\left(\frac{28x}{100}\right)+\left(\frac{22(13900-x)}{100}\right)=3508$
28x + 305800 − 22x = 350800
6x = 45000
$x=\frac{45000}{6}$ = Rs.7500
Investment in scheme B = Rs. 13900 – Rs. 7500 = Rs. 6400.