Question discussion

Arunavo invested total sum of Rs. 16000 in two schemes (A and B) for two years. Scheme A offers compound interest (compounded annually) at…

120257Medium 1 reply 2,839 views

Arunavo invested total sum of Rs. 16000 in two schemes (A and B) for two years. Scheme A offers compound interest (compounded annually) at the rate of 10% per annum and scheme B offers simple interest at the rate of 12% per annum. If the total interest earned by him from both the schemes after two years is Rs. 3504. How much money (principle) did he invest in scheme B?

ARs. 4800
BRs. 4200
CRs. 4600
DRs. 4400

Answer not set

Join the discussion Report an error

Discussion 1

CCommunity15 May 2019

Solution
Let x be the amount invested in scheme A and y be amount invested in amount invested in scheme B.

x+y = 16,000

(x(1+.1)^2 - x) + y*2*0.12 = 3504

0.21x + 0.24y = 3504

Solving the above equation we get,

x = 11,200

y = 4800

He invested Rs.4800 in scheme B.