Mr. X deposited an amount in Scheme II with Company C for two years. After that he withdrew the amount and reinvested only the principal amount in Scheme IV of Company B for two years. Total amount of simple interest accrued from the two Schemes is Rs.14,800. What was the principal amount?

Let the principal amount = $$Rs. 100x$$

Rate of interest in company C under scheme II = 9 %

Simple interest = $$\frac{P \times R \times T}{100}$$

= $$\frac{100x \times 9 \times 2}{100}$$

= Rs. $$18x$$

Rate of interest in company B under scheme IV = 9.5 %

Simple interest = $$\frac{P \times R \times T}{100}$$

= $$\frac{100x \times 9.5 \times 2}{100}$$

= Rs. $$19x$$

$$\therefore$$ Total interest = $$18x + 19x = 14,800$$

=> $$x = \frac{14,800}{37} = 400$$

$$\therefore$$ Principal amount = $$100 \times 400$$

= $$Rs. 40,000$$