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₹16,000 is divided into two parts. One part is invested in a scheme that gives 15% simple interest annually for 2 years. The other part is invested in a scheme offering 10% simple interest annually for 2 years. If the total interest earned is ₹3,600, find the sum invested at 10% interest rate.

1. 14000
2. 12000
3. 10000
4. 4000

Correct answer: 4000

Solution

Let the amount invested at 10% be \(x\), so the amount at 15% is \(16000-x\). Interest for 2 years is \(0.2x\) and \(0.3(16000-x)\) respectively. Their sum equals 3600, which gives \(x=4000\).

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