New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    A person invested ₹15,000 in two schemes, Scheme A

    offering 10% per annum simple interest, and Scheme B offering 12% per annum simple interest. If the total interest from both schemes after 2 years is ₹3,360, how much was invested in Scheme A?
    A ₹6,000 Correct Answer Incorrect Answer
    B ₹7,000 Correct Answer Incorrect Answer
    C ₹8,000 Correct Answer Incorrect Answer
    D ₹9,000 Correct Answer Incorrect Answer

    Solution

    Let the amount invested in Scheme A be ₹x. Then the amount in Scheme B = ₹15,000 - x. Interest from Scheme A in 2 years = x × 10 × 2 / 100 = 0.2x. Interest from Scheme B in 2 years = (15,000 - x) × 12 × 2 / 100 = 0.24(15,000 - x). Total interest = 0.2x + 0.24(15,000 - x) = 3,360. 0.2x + 3,600 - 0.24x = 3,360. -0.04x = -240. x = 6,000. Correct Option: a) ₹6,000

    Practice Next