Question
Karan invested Rs. (x + 500) in a scheme A offering
simple interest of 16% p.a., and the interest received after 2 years is Rs. 640. He invested Rs. 2x in scheme B at a rate of R% p.a. in simple interest, and the total amount received in scheme B after 3 years is Rs. 6240. Find the value of R.Solution
For Scheme A: SI = P × R × N / 100 640 = (x + 500) × 16 × 2 / 100 640 = (x + 500) × 0.32 x + 500 = 2000 x = 1500 For Scheme B: Amount invested = 2 × 1500 = 3000 6240 – 3000 = 3000 × R × 3 / 100 3240 = 90R R = 3240 / 90 = 36%
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