A person invested ₹25,000 in two schemes – Scheme A at 12% p.a. and Scheme B at 8% p.a., both under simple interest. After 1 year, the total interest from both schemes was ₹2,560. How much was invested in Scheme A?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. ₹14,000.
Let the person invested at 12% be x.
Investment at 8% = 25000 - x
Given, = 2560
⇒ 3x/25 + (50000 - 2x)/25 = 2560
⇒ x + 50000 = 64000
⇒ x = 14000