Question
A person deposits Rs. ‘x’ in savings scheme A and Rs.
‘x/2’ in scheme B. The interest rates are 7% p.a. and 6% p.a. respectively. If after 3 years the total simple interest is Rs. 693, determine the value of ‘x’.Solution
ATQ,
x × 0.07 × 3 + x/2 × 0.06 × 3 = 693
0.21x + 0.09x = 693
0.30x = 693
x = 693 / 0.30 = 2310
So, the value of ‘x’ is Rs. 2310
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