Question
Azhar deposited an amount of Rs. 'x + 250' in a simple
interest scheme at a rate of 20% per annum for a duration of 3 years. Additionally, he invested Rs. 'x + 500' at a rate of 30% per annum, again under a simple interest scheme, for a period of 2 years. If the combined interest from both investments totaled Rs. 1950, determine the value of 'x'.Solution
According to question; 0.20 × 3 × (x + 250) + 0.30 × 2 × (x + 500) = 1950 Or, 0.6x + 0.6x = 1950 – 150 – 300 Or, 1.2x = 1500 Or, x = 1250
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