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

Correct answer: A. Rs. 6400

  • A. Rs. 6400
  • B. Rs. 6500
  • C. Rs. 7200
  • D. Rs. 7500

Explanation

Let Scheme B contain Rs. x, so Scheme A contains Rs. 13,900 - x. Over 2 years, interest is 0.28(13,900 - x) + 0.22x = Rs. 3508, giving Rs. 3892 - 0.06x = Rs. 3508 and x = Rs. 6400. Option b, Rs. 6500, is the nearest-looking value but does not satisfy the interest equation.

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