Multiple choice

Rs 15,000 is to be invested in 2 schemes, one part is invested in scheme A which offers 9.5% rate of interest and remaining part is invested in scheme B which offers 5% rate on interest. After 3 years, a total of Rs 3600 is received as simple interest. What is the part invested in scheme A?

  1. Rs. 10000

  2. Rs. 12000

  3. Rs. 15000

  4. Rs. 18000

  5. Rs. 20000
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A Correct answer
Explanation

Let x be invested in scheme A at 9.5% for 3 years. SI from A = 0.285x. SI from B (15000-x at 5% for 3 years) = 0.15(15000-x) = 2250-0.15x. Total: 0.285x + 2250 - 0.15x = 3600. Solving: 0.135x = 1350, x = 10000.

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