Question

Mr. X deposited an amount in scheme II with company C for 2 years. After that, he withdrew the amount and reinvested only the principal amount in scheme IV of company B for 2 years. The total amount of simple interest accrued from the two schemes is Rs. 14800. What was the principal amount?

• A. Rs. 48000
• B. Rs. 42000
• C. Rs. 40000
• D. Cannot be determined
• E. None of these

Answer 1

The correct option is C

Rs. 40000

Let the principal be Rs. $x$.
Interest accrued from company $C=\frac{x\times 2\times 9}{100}=Rs\frac{9x}{50}$
Interest accrued from company $B=Rs\frac{9.5x}{50}$
$\therefore \frac{9.5x}{50}+\frac{9x}{50}=14800\Rightarrow 18.5x=14800\times 50\Rightarrow x=\frac{14800\times 50}{18.5}=Rs.40000$