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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. 6400
    C.

    Rs. 7200
    D.

    Rs. 7500
    E.

    None of these

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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, \([ \frac { XX 14 *2} { 100 }]\)     +\([\frac { (13900-X)*11*2 } { 100 }]\)       = 3508
       

     28x - 22x = 350800 - (13900 x 22)

     6x = 45000

     x = 7500.

     

    So, sum invested in Scheme B = Rs. (13900 - 7500) = Rs. 6400.

     

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