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’.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
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