Question 65

The sum invested in scheme B is twice the sum invested in scheme A. Investment in scheme A is made for 3 years at 8% p.a. simple interest and in Scheme B for 2 years at 9% p.a. simple interest. The total interest earned from both the schemes is Rs. 1800. How much was invested in Scheme A?

Solution

scheme A has 8 % SI and scheme B has 9 % SI

Let the sum invested in A = Rs y then sum invested in B = Rs 2y

Total interest earned = Rs 1800

Time = 2 years for scheme B and 3 years for scheme A

So

$$\frac{24y}{100}$$ + $$\frac{36y}{100}$$ = 1800

y = 180000/60

y= 3000

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