Question
Sam invested a certain sum in scheme A for 5 years and
in scheme B for 3 years, a sum which was double of that invested in scheme A. Both the schemes offer simple interest at the rate of 8% p.a. The difference between the amounts received from both the schemes was Rs. 12960. How much did Sam invest in scheme A?Solution
Let the sum inveseted by Sam in scheme A is Rs x and sum invested by Sam in scheme B is Rs 2x Now according to the question, {2x + (8 x 3 x 2x)/100} - {x + (8 x 5 x x)/100} = 12960 248x/100 - 140x/100 = 12960 108x/100 = 12960 x = 12000 Hence, Sam invest in scheme A = Rs 12000
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