Question

    Ajay and Vijay jointly invest an amount 'x' in a simple

    interest scheme for 4 years. Ajay contributes 40% of 'x' at an interest rate of 7% per annum, while Vijay invests the remaining 60% of 'x' at 9% per annum. The total simple interest earned by both Ajay and Vijay together is Rs. 13,120. What is the value of 'x'?
    A Rs.42,000 Correct Answer Incorrect Answer
    B Rs.20,000 Correct Answer Incorrect Answer
    C Rs.52,000 Correct Answer Incorrect Answer
    D Rs.40,000 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ;
    x = 100a
    40a and 60a
    4 × 7% × 40a + 4 × 9% × 60a = 13120
    32.8a = 13120
    a = 400
    Hence, x = 40,000

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