Multiple choice

Bhavani invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% per annum and 11% per annum, respectively. If the total amount of simple interest earned in two years be Rs. 3508, what was the amount invested in scheme B?

  1. 6400

  2. 6500

  3. 7200

  4. 7900

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A Correct answer
AI explanation

Let the amount invested in scheme B be x, so the amount invested in scheme A is (13900 minus x). The total simple interest for two years is ((13900 minus x) multiplied by 14 multiplied by 2) divided by 100 plus (x multiplied by 11 multiplied by 2) divided by 100, which equals 3508. Multiplying the entire equation by 100 gives 28(13900 minus x) + 22x = 350800, which simplifies to 389200 minus 6x = 350800. Solving for x gives 6x = 38400, meaning the amount invested in scheme B is Rs. 6400.