Q108
Shashi had a certain amount of money. He invested 2/3 of the total money in scheme A for 6 years and rest of the money he invested in scheme B for 2 years. Scheme A offers simple interest at a rate of 12% p.a. and scheme B offers compound interest ( compound annually) at a rate of 10% p.a. If the total interest obtained from both the schemes is Rs. 2750. What was the total amount invested by him in scheme A and scheme B together ? (Approximate value)
Shashi had a certain amount of money. He invested of the total money in scheme A for 6 years and rest of the money he invested in scheme B for 2 years. Scheme A offers simple interest at a rate of 12% p.a. and scheme B offers compound interest ( compound annually) at a rate of 10% p.a. If the total interest obtained from both the schemes is Rs. 2750. What was the total amount invested by him in scheme A and scheme B together ? (Approximate value)
A.
Rs. 4500
B.
Rs. 4200
C.
Rs. 4050
D.
Rs. 5000
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Let the total sum of money invested by Shashi be Rs. xIn scheme A money invested at simple interest for 6 years at a rate of 12% p.a.
In scheme B money at compound interest for 2 year at a rate of 10% p.a.
According to given information we get