Discussion Forum

Mr. Abhishek invested an amount of Rs. 14,900 divided in two different schemes A and B at the simple interest rate of 16% p.a. and 13% p.a. respectively. If the total amount of simple interest earned in 3 years be Rs. 6261, what was the amount invested in Scheme B ?

Answer:

Explanation:

Let the sum invested in Scheme $A$ be Rs. $x$ and that in Scheme $B$ be Rs. $(14900-x)$

$\left(\frac{(x\times 16\times 3)}{100}\right)$ $+\left(\frac{((14900-x)\times 13\times 3)}{100}\right)$ $=6261$

$\Rightarrow 48x-39x$ $=626100-(14900\times 39)$

$\Rightarrow 9x$ $=45000$

$\Rightarrow x$ $=5000$

So, sum invested in Scheme $B$ = Rs. $(14900-5000)$ = Rs. 9900