Mr Gogia invested an amount of ₹,13,900 divided into two different schemes A and B at the simple interest rate of 14% pa and 11% pa, respectively. If the total amount of simple interest earned in 2 years is ₹3,508, what was the amount invested in scheme B?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. ₹6,400.
Let the amount invested in scheme B be Rs x.
⇒ ((13900 − x) × 14 × 2)/100 + (x × 11 × 2)/100 = 3508
⇒ 3892 – 28x + 22x = 3508
⇒ 6x = 384
⇒ x = 64
Amount in scheme B = 100 × 64 = 6400
∴ Amount invested in scheme B Rs. 6400.