Question
A person invested Rs. 30,000 in two schemes. One scheme
gives a simple interest of 7% p.a., while the other scheme gives 11% p.a. If the total interest earned from both schemes at the end of 4 years is Rs. 9,600, how much did he invest in the scheme offering 7% interest?Solution
ATQ,
Let the amount invested in the scheme offering 7% interest be Rs. x.
Therefore, the amount invested in the scheme offering 11% interest = Rs. (30000 - x).
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