Question
Priya invested Rs. 9,000 in scheme ‘C’ at simple
interest of 5% p.a. for ‘t’ years and Rs. 9,000 in scheme ‘D’ at simple interest of 14% p.a. for 3 years. If the total interest received by her from both schemes together is Rs. 4,230, then find the value of ‘t’.Solution
ATQ, Formula Used: Simple Interest = (Principal × Rate × Time) / 100 4230 = {(9000 × 5 × t)/100} + {(9000 × 14 × 3)/100} Or, 4230 = (450t) + (3780) Or, 450t = 4230 – 3780 Or, 450t = 450 Or, t = 450/450 = 1 year
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