Question
Rohit invested Rs. (x + 1500) in scheme ‘A’ which
offers simple interest of 14% p.a. and Rs. (x + 2500) in scheme ‘B’ which offers simple interest of 10% p.a. At the end of 2 years, if the interest received from scheme ‘A’ is Rs. 120 more than that from scheme ‘B’, then find the value of ‘x’.Solution
According to the question,
(x + 1500) × 14% × 2 – (x + 2500) × 10% × 2 = 120
Or, 0.28x + 420 – 0.20x – 500 = 120
Or, 0.08x - 80 = 120
Or, 0.08x = 200
So, x = 2500
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