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₹6400 is invested in two schemes. The first part gives 12% interest, and the second gives 20%. If the total interest after 2 years is ₹2176, find the amount invested at 12%.

1. ₹2400
2. ₹3000
3. ₹4000
4. ₹3400

Correct answer: ₹2400

Solution

Let the amount invested at 12% be x, so the other amount is 6400 - x. Since interest is for 2 years, total simple interest is \(x\cdot 12\%\cdot 2 + (6400-x)\cdot 20\%\cdot 2 = 2176\). Solving gives x = 2400.

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