Question
Rohit invested Rs. ‘x’ and Rs. ‘y’ in Scheme A
and Scheme B respectively. He invested in Scheme A for 5 years at a simple interest rate of 6% p.a., while in Scheme B for 2 years at 9% p.a. The amount invested in Scheme A was Rs. 500 more than that in Scheme B. If the interest earned from Scheme A was Rs. 72 more than that from Scheme B, find the total amount invested in both schemes.Solution
ATQ,
The amount invested in scheme A and scheme B is Rs. ‘x’ and Rs. ‘y’ respectively. According to question, x – y = 500 --------(i) Also, x × 6% × 5 – y × 9% × 2 = 72 0.3x – 0.18y = 72 ----------(ii) Solving both equations, we get, x = 1500 and y = 1000 Therefore, total amount invested in both schemes combined = 1500 + 1000 = Rs. 2500
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