New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A man invested ₹40,000 in two schemes A and B offering

    simple interest at the rate of 8% per annum and 10% per annum respectively. If the total interest earned after 2 years from both the schemes is ₹7,200 and the amount invested in scheme A is ₹x, find the value of x.
    A ₹20,000 Correct Answer Incorrect Answer
    B ₹24,000 Correct Answer Incorrect Answer
    C ₹28,000 Correct Answer Incorrect Answer
    D ₹30,000 Correct Answer Incorrect Answer

    Solution

    Let the amount invested in scheme A be ₹x. Then the amount invested in scheme B = ₹(40,000 - x). The interest from scheme A: = (x × 8 × 2) / 100 = 0.16x. The interest from scheme B: = ((40,000 - x) × 10 × 2) / 100 = 0.2(40,000 - x) = 8,000 - 0.2x. Total interest = ₹7,200: 0.16x + 8,000 - 0.2x = 7,200 -0.04x + 8,000 = 7,200 -0.04x = -800 x = ₹20,000.

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