A sum of ₹10000 is invested in three schemes of simple interest. The annual interest rates are respectively, 4%, 6% and 10%. ₹4000 were invested in the first scheme. If the total interest earned after five years is ₹2800, then how much money was invested in the third scheme?
The annual interest rates are respectively, 4%, 6% and 10%.
A sum of ₹10000 is invested in three schemes of simple interest.
₹4000 were invested in the first scheme.
Amount invested in the second and third scheme = 10000-4000
= ₹6000
Let's assume the amount invested in the second scheme is ₹y.
amount invested in the third scheme = (6000-y)
If the total interest earned after five years is ₹2800.
$$\frac{4000\times\ 4\times\ 5}{100}+\frac{y\times\ 6\times\ 5}{100}+\frac{\left(6000-y\right)\times\ 10\times\ 5}{100}\ =\ 2800$$
$$\frac{4000\times\ 4}{100}+\frac{y\times\ 6}{100}+\frac{\left(6000-y\right)\times\ 10}{100}\ =\ 560$$
$$160+\frac{6y}{100}+\frac{60000-10y}{100}\ =\ 560$$
$$\frac{6y}{100}+\frac{60000-10y}{100}\ =\ 560-160$$
$$\frac{6y}{100}+\frac{60000-10y}{100}\ =\ 400$$
$$6y+60000-10y\ =\ 40000$$
$$6y-10y\ =\ 40000-60000$$
-4y = -20000= (6000-5000)
= ₹1000
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