Simple Interest Practice Test 1

Question : 13 of 40

Marks: +1, -0

Samir invested an amount of Rs. 12,000 at the rate of 10% p.a. simple interest and another amount at the rate of 20% p.a. simple interest. The total interest earned at the end of one year on the total amount invested became 14% p.a. What is the total amount invested?

Rs. 25000
Rs. 22000
Rs. 20000
Rs. 18000

Validate

Solution:

Let Samir invested Rs. x at 20% p.a. then,

{12000×10×1}/100+{x×20×1}/100={(12000+x)×14×1}/100

⇒ 168000 + 14x – 20x = 120000
⇒ 6x = 48000
⇒ x = Rs. 8000
Hence, total amount invested = 12000 + 8000 = Rs. 20,000

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