Question

Mr. Thomas invested an amount of Rs. 13,900 divided into 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 is Rs.3508, what was the amount invested in scheme B?

• A. $Rs.6400$
• B. $Rs.5400$
• C. $Rs.6409$
• D. $Rs.5409$

Answer 1

The correct option is A

$Rs.6400$

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

Then,

$SimpleInterest(S.I.)=\frac{P\times R\times T}{100}$

Total Simple Interest = Interest obtained from both the schemes = Rs 3508
Total Simple Interest = $\frac{x\times 14\times 2}{100}+\frac{(13900-x)\times 11\times 2}{100}=3508$

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

$\Rightarrow 6x=45000$

$\Rightarrow x=7500$

So, sum invested in Scheme B is = Rs (13900 - x)

= Rs (13900 - 7500) = Rs 6400