Question
Mr. Ajay invested in two schemes A and B contributing
compound interest @ 5% pa and 7% pa respectively. If the entire amount of interest in two years was ₹3499 and the entire amount Funded was ₹ 30000, then what was the amount Funded in scheme A?Solution
Scheme A A x 105 /100 x 105/100 – X Scheme B (30000 - X) x [7/100 x 107/ 100 -1] Now, 0.1025X + (30000 - X) x 0.1449 = 3499 X = 848 /424 x 10000 = Rs 20,000
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