Question

    Mr. Arun invested Rs. x in Scheme 1 and Rs. x/4 in Scheme

    2. The schemes offered simple interest at 7% p.a. and 12% p.a. respectively. If the interest earned after 2 years is Rs. 420, calculate the value of ‘x’.
    A Rs.2100 Correct Answer Incorrect Answer
    B Rs.2900 Correct Answer Incorrect Answer
    C Rs.2800 Correct Answer Incorrect Answer
    D Rs.2500 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    x × 0.07 × 2 + x/4 × 0.12 × 2 = 420

    0.14x + 0.06x = 420

    0.20x = 420

    x = 420 / 0.20 = 2100

    So, the value of ‘x’ is Rs. 2100

    Practice Next

    Relevant for Exams: