Exams › IBPS PO › Quantitative Aptitude

Mr. Thomas invested an amount of Rs. 13,900 divided into two different schemes A and B at simple interest rates of 14% p.a. and 11% p.a. respectively. If the total simple interest earned in 2 years is Rs. 3508, what was the amount invested in Scheme B?

1. Rs. 6400
2. Rs. 6500
3. Rs. 7200
4. Rs. 7500

Correct answer: Rs. 6400

Solution

If Scheme A gets $13900-x$ and Scheme B gets $x$, then total 2-year interest is $2\times 14\%\,(13900-x)+2\times 11\%\,x=3508$. Solving gives $x=6400$.

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