Question
A sum was invested in scheme ‘A’ for 4 years at
simple interest of 10% per annum. Had it been invested in scheme ‘B’ at simple interest of 9% per annum for 6 years, the interest earned would have been Rs. 1,680 more. What is the amount invested?Solution
Let the sum = Rs. ‘x’
According to the question,
(x × 9% × 6) – (x × 10% × 4) = 1680
Or, 0.54x – 0.40x = 1680
Or, 0.14x = 1680
Or, x = 12000
So, the sum = Rs. 12,000
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