Question
A man invests a total of Rs 40,000 in two schemes for 2 years:
- I Scheme A: Simple interest at 8% p.a. I
- I Scheme B: Compound interest at 10% p.a., compounded annually. The total interest earned from both schemes after 2 years is Rs 7,400. How much money (in rupees) did he invest in Scheme A (simple interest)?
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