Question 38

A invests on some scheme at 5% and B at 3% for two years. If the total sum invested by A and B is 4000 and the simple interest received by both is same then find the amount invested by A.

Solution

Let the amount invested by A be Rs y , then amount invested by B be Rs (4000-y)

Rate of interest for A = 5%

rate of interest for B = 3%

time = 2 years

As it is given that interest for both are same .So,

$$\frac{y\times5\times2}{100}$$ = $$\frac{(4000-y)\times3\times2}{100}$$

y = Rs 1500

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