New Enroll in our GIC Finance Online Course Here!

    Register

    Question

    A man invested Rs. 'r' in scheme 'E' offering simple

    interest at 14% for 6 years and Rs. 3,000 in scheme 'F' offering simple interest at 10% for 3 years. If the total interest earned from both schemes is (r + 1,500), then find the total interest earned from scheme 'E'.
    A Rs.5,150 Correct Answer Incorrect Answer
    B Rs.3,100 Correct Answer Incorrect Answer
    C Rs.23,150 Correct Answer Incorrect Answer
    D Rs.3,150 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, Simple interest = Sum X rate of interest X time period in years ÷ 100 Interest earned from scheme 'E' = r X 14 X 6 ÷ 100 = Rs. '0.84r' And interest earned from scheme 'F' = 3000 X 10 X 3 ÷ 100 = Rs. 900 Or, 0.84r + 900 = r + 1500 Or, 0.84r = 600 Or, 0.16r = 600 Or, r = 600 / 0.16 = 3750 Interest earned from scheme 'E' = 0.84 X 3750 = Rs.3,150

    Practice Next

    Relevant for Exams: