Exams › SSC CGL (Prelims) › General
A person invested ₹15,000 in two different schemes. He invested one part for 5 years at 4% simple interest and the other part for the same duration at 6% simple interest. If the interest earned from the second part was ₹1,500 more than the interest earned from the first part, how much money was invested in the second scheme?
- ₹ 7,000
- ₹ 8,000
- ₹ 9,000
- ₹ 10,000
Correct answer: ₹ 9,000
Solution
Let the amount invested at 6% be \(x\), so the amount at 4% is \(15000-x\). The difference in interest for 5 years is \(\frac{x\cdot 6\cdot 5}{100}-\frac{(15000-x)\cdot 4\cdot 5}{100}=1500\). Solving gives \(x=9000\).
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