Question

Shashi had a sum of money. Two-thirds of the total money he invested in scheme A for 6 years and rest of the money he invested in scheme B for 2 years. Scheme A offers a simple interest at the rate of 12% per annum and scheme B offers a compound interest (compounded annually) at the rate of 10% per annum. If the total sum obtained from both the schemes is Rs 2805. What was the total amount invested by him in scheme A and scheme B together?

• A. Rs 1500
• B. Rs 5100
• C. Rs 1000
• D. Rs 2000
• E. Rs 1464

Answer 1

The correct option is B Rs 5100

Let Shashi had sum of Rs P.
then,
$\frac{2}{3}P\times \frac{12\times 6}{100}+\frac{1}{3}P{(1+\frac{10}{100})}^2-\frac{1}{3}P=2805=\frac{48P}{100}+\frac{1}{3}P\left(\frac{121}{100}\right)-\frac{1}{3}P=2805=\frac{48P}{100}+\frac{121P-100P}{300}=2805=\frac{144P+21P}{300}=2805\Rightarrow \frac{165P}{300}=2805\Rightarrow P=\frac{2805\times 300}{165}\Rightarrow P=17\times 300=Rs.5100$.