Mr. Thomas 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?
Simple Interest Calculation
Let’s denote the amount invested in Scheme A as x and in Scheme B as (13,900 – x).
Simple interest for 2 years from Scheme A = (x × 14 × 2) / 100
= 28x / 100
Simple interest for 2 years from Scheme B = ((13,900 – x) × 11 × 2) / 100
= (11 × (13,900 – x)) / 50
Total simple interest earned = Rs. 3508
(28x / 100) + ((11 × (13,900 – x)) / 50) = 3508
Multiply both sides by 100:
28x + (22 × (13,900 – x)) = 350,800
28x + 305,800 – 22x = 350,800
Combine like terms:
6x = 45,000
x = 7,500
Amount invested in Scheme B = 13,900 – x
= 13,900 – 7,500
= 6,400
The amount invested in Scheme B is Rs. 6,400.
