Simple Interest Practice Test 4

Question : 2 of 26

Marks: +1, -0

Mr. Sanjay invested an amount of Rs. 13,900 divided in two different schemes P and Q at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508 then find the amount invested in scheme Q.

Rs. 7500
Rs. 7000
Rs. 6400
Rs. 6000

Validate

Solution:

Let Mr. Sanjay invested Rs. x and Rs (13900 – x) in schemes Q and P respectively, then

{x×11×2}/100+{(139000-x)×14×2}/100=3508

⇒ 22x + 389200 – 28x = 350800
6x = 38400
x =

38400/6

= Rs. 6400

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