Question
Karan invested a certain amount of money, splitting it
into two equal parts. He placed one part in a simple interest scheme at an annual rate of 15% for 5 years and the other part at the same rate for 42 months. The difference in the interest earned from these two investments is Rs. 288. Determine the amount invested in each part.Solution
ATQ; Let the money invested in each part be Rs. ‘P’ ATQ; {(P × 15 × 5)/100} – {(P × 15 × 42)/(100 × 12)} = 288 Or, {(75P – 52.5P)/100} = 288 Or, 22.5P = 28800 So, P = 1280 So, required amount = Rs.1,280
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