Question 123

Abhishek invested an amount of Rs. 29,000 in two parts under two different schemes A and B and earned a total interest of Rs. 3, 840. Schemes A and B offered 15% and 12% simple interest respectively. What was the amount investment in Scheme ‘A’ ?

Solution

Let the investment in Scheme A be X.
So, the investment in Scheme B is 29000-X

Hence, the total interest earned equals 15%*X + 12%*(29000-X) =3840
Therefore, 3%*X = 3840 - 3480 = 360
Hence, X = 12000

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