Question
A man invested Rs. ‘x’ in Plan A and Rs. ‘x/2’ in
Plan B. Plan A offers 4% p.a. and Plan B offers 7% p.a. simple interest. If after 3 years, the total interest earned is Rs. 495, what is the value of ‘x’?Solution
ATQ,
x × 0.04 × 3 + x/2 × 0.07 × 3 = 495
0.12x + 0.105x = 495
0.225x = 495
x = 495 / 0.225 = 2200
So, the value of ‘x’ is Rs. 2200
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