7. Mr. Thomas invested an amount of Rs 13,900 divided into two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the amount of simple interest earned in 2 years be Rs 3508, what was the amount invested in Scheme B?
Question
- Mr. Thomas invested an amount of Rs 13,900 divided into two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the amount of simple interest earned in 2 years be Rs 3508, what was the amount invested in Scheme B?
Solution
Let's denote the amount invested in Scheme A as x and the amount invested in Scheme B as 13900 - x.
According to the problem, the total interest from both schemes after 2 years is Rs 3508. We can express this as an equation:
(14/100)2x + (11/100)2(13900 - x) = 3508
Solving this equation will give us the value of x, which is the amount invested in Scheme A. Subtracting x from the total investment of Rs 13900 will give us the amount invested in Scheme B.
Let's solve the equation:
We simplify the equation to:
28x/100 + 3068 - 22x/100 = 3508
This simplifies further to:
6x/100 = 440
Multiplying both sides by 100/6 gives:
x = 440 * 100 / 6
x = 7333.33
So, the amount invested in Scheme A is approximately Rs 7333.33.
Subtracting this from the total investment gives the amount invested in Scheme B:
13900 - 7333.33 = Rs 6566.67
So, Mr. Thomas invested approximately Rs 6566.67 in Scheme B.
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