Exams › SSC CGL (Prelims) › General
A person invests ₹24,000 in two schemes — Scheme A at 18% and Scheme B at 12%, both at simple interest. After 1 year, the total interest is ₹3,840. How much was invested in Scheme A?
- ₹ 8,000
- ₹ 10,000
- ₹ 12,000
- ₹ 16,000
Correct answer: ₹ 16,000
Solution
If x is invested at 18%, then 24,000 − x is invested at 12%. The total interest equation is 0.18x + 0.12(24,000 − x) = 3,840. Solving gives x = ₹16,000.
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