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 $B$?

Answer 1

Let the investment in scheme A be Rs. x

and teh investment in scheme B b Rs. (13900-x)

We know that SI=PRT/100

simple interest for Rs. x in 2 yeras at 14% pa.a = $\frac{x\times 14\times 2}{100}=\frac{280}{100}$

simple interest for Rs.(13900-x) in 2 years at 11% p.a =

$\frac{(13900-x)\times 11\times 2}{100}=\frac{22(13900-x)}{100}$

Total interest = Rs. 3508

$\frac{28x}{100}+\frac{22(13900-x)}{100}=3508$

$\Rightarrow 28x+305800-22x=350800$

$\Rightarrow 6x=4500\Rightarrow x=\frac{45000}{6}=7500$

Investment in scheme B= 13900-7500= Rs. 6400