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A man invested ₹X and ₹(X + 400) in two different schemes A and B respectively. The rate of interest offered by schemes A and B is 10% p.a. and 12% p.a. respectively. If the sum of the interest received by the man from scheme A after four years and from scheme B after two years is ₹640, then find X.

1. 850
2. 1250
3. 750
4. 1150

Correct answer: 850

Solution

Using simple interest, interest from A after 4 years is \(X \times 10 \times 4 / 100 = 0.4X\). Interest from B after 2 years is \((X+400) \times 12 \times 2 / 100 = 0.24(X+400)\). Their sum is 640, which gives X = 850.

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