Practicing Success
A sum of ₹10000 is invested in three schemes of simple interest. The annual interest rates are respectively, 4%, 6% and 10%. ₹4000 were invested in the first scheme. If the total interest earned after five years is ₹2800, then how much money was invested in the third scheme? |
₹1500 ₹5000 ₹1000 ₹3000 |
₹1000 |
Let Sum invested in 2nd scheme = x Sum invested in 3rd scheme = ( 6000 - x ) By using formula , Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) \(\frac{4000 ×4 × 5 }{100}\) + \(\frac{x ×6 × 5 }{100}\) + \(\frac{(6000-x) ×10× 5 }{100}\) = 2800 800 + \(\frac{x × 3 }{10}\) +\(\frac{(6000-x) × 5 }{10}\) = 2800 \(\frac{3x }{10}\) + \(\frac{30000 - 5x }{10}\) = 2000 3x + 30000 - 5x = 20000 -2x = - 10000 x = 5000 Amount invest in 2nd scheme = 5000 So , Amount invested in 3rd scheme = 6000 - 5000 = 1000 |