An equal amount of sum is invested in two schemes for 4 yr each, both offering simple interest. When invested in scheme A at 8 \% per annum the sum amounts to ₹ 5280 . In scheme B, invested at 12 \% per annum it amounts to ₹ 5920. What is the total sum invested?

NIFT PG 2019 Question Paper with solutions

Question : 13 of 150

Marks: +1, -0

An equal amount of sum is invested in two schemes for 4 yr each, both offering simple interest. When invested in scheme

A

8 \%

per annum the sum amounts to

₹ 5280 .

In scheme

B

, invested at

12 \%

per annum it amounts to

₹ 5920

. What is the total sum invested?

Solution:

Let the invested sum be

₹ x

.
Then,

x+\;{x × 4 × 8}/{100}=5280

( ∵ {SI}=\;{P × R × T}/{100}

and

A=P+ {SI})

⇒ x+\;{8 x}/{25}=5280 ⇒ 33 x=5280 × 25

x=\;{5280 × 25}/{33}=160 × 25=4000

∴

Total sum

=2 × 4000=₹ 8000

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