Multiple choice

There are two schemes A and B, scheme A gives 12.5% interest rate whereas scheme B gives 21% interest rate. A person invests in them in the ratio of 4:5. After 3 years, the difference between interest from A and interest from B is Rs 2145, calculate the total amount invested ?

  1. Rs.11700

  2. Rs.12480

  3. Rs.13200

  4. Rs.15800

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let investments in scheme A and B be 4x and 5x respectively. Simple Interest from A = 4x × 12.5% × 3 = 1.5x. Simple Interest from B = 5x × 21% × 3 = 3.15x. Difference = 3.15x - 1.5x = 1.65x = 2145. So x = 2145/1.65 = 1300. Total investment = 4x + 5x = 9x = 9 × 1300 = Rs. 11700.

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