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Discussion :: Simple Interest

  1. 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?
    2. A.
    Rs. 6400
    B.
    Rs. 6500
    C.
    Rs. 7200
    D.
    Rs. 7500

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    Answer : Option A

    Explanation :

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

    (x * 14 * 2)/100 + [(13900 - x) * 11 * 2]/100 = 3508

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