Question

Geeta invested a total of Rs. 40000 in two different schemes X and Y. Scheme X which offers interest at a rate of 5% per annum and scheme Y offers interest at a rate of 12%. If the total interest earned by Geeta after 1 year is Rs. 4000 then Find the sum(approx.) invested in scheme Y.

1. Rs. 34000.10
2. Rs. 19000
3. Rs. 28571
4. Rs. 14000.20
5. None of these 

Answer 1

Correct Answer - Option 3 : Rs. 28571

Given,

Geeta invested a total of Rs. 40000 in two different schemes X and Y

Scheme X offers interest at a rate of 5% per annum

Scheme Y offers interest at a rate of 12%.

Total interest earned by Geeta after 1 year is Rs. 4000

Formula used: 

S.I. = PTR ÷ 100

Calculation:  

Let the total investment in scheme Y be Rs. k,

then (40000 - k) × (5 ÷ 100) + k × (12 ÷ 100) = 4000

⇒ k = Rs. 28571.42 ≈ Rs. 28571

∴ The required answer is Rs. 28,571