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A man invested ₹400 at the rate of 4% p.a. for four years on simple interest in scheme X and ₹800 at the rate of x% p.a. for three years in scheme B. If the total interest received by the man is ₹256, then find x.

1. 4
2. 8
3. 10
4. 12

Correct answer: 8

Solution

The interest from ₹400 at 4% for 4 years is ₹64. So the second scheme gives ₹256 - ₹64 = ₹192. Using simple interest on ₹800 for 3 years, 192 = \frac{800 \times x \times 3}{100}, which gives x = 8.

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