Question
A person invests ₹25,000 in a scheme offering 12%
annual simple interest. After 3 years, the amount is withdrawn and some amount invested in another scheme offering 15% annual simple interest. If the total interest earned after 8 years is ₹13,500, find the principal amount invested in the second scheme.Solution
Interest from the first scheme: Simple Interest = P × R × T / 100 = 25,000 × 12 × 3 / 100 = ₹9,000 Total interest earned = ₹13,500 Interest from the second scheme = ₹13,500 - ₹9,000 = ₹4,500 Let the principal in the second scheme be P. Simple Interest = P × 15 × 5 / 100 = P × 75 / 100 = 3P / 4 3P / 4 = 4,500 P = 4,500 × 4 / 3 P = ₹6,000 Thus, the principal invested in the second scheme is ₹6,000.
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