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Bajaj Capital launches two scheme A and B for the investment. Mr keshav invested an amount of Rs.13500 devided in scheme A and B at the simple interest rate of 15% per annum and 10% per annum respectively. If the total amount of simple interest earned in two years be Rs.2986. Find the amount of money Invested in scheme B.
1. Rs. 14,460
2. Rs. 10,640
3. Rs. 12,460
4. None of these

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Correct Answer - Option 2 : Rs. 10,640

Given∶

Money to be invested = Rs. 13500

Rate of interest in scheme A and B are 15% and 10% per annum.

Total interest earned = Rs. 2986. 

Formula Used

S.I = PRT/100

Calculation∶

Let the investment in scheme A be Rs.x.

And the investment in scheme B Rs.(13500 - x) 

We know that, S.I = PRT/100

Simple interest for Rs x in 2 years at 15% per annum = (x ×15 × 2)/100 = 30x/100

Simple interest for Rs.(13500 - x) in two years at 10% per annum = [(13500 - x) × 10 × 2]/100

⇒ 20 (13500 - x)/100

Now,

Total interest = 2986

⇒ 30x/100 + 20(13500 - x)/100 = 2986

⇒ 30x + 270000 - 20x = 298600

⇒ 10x = 28600

⇒ x = 28600

So, investment in scheme B = 13500 - 2860 = Rs.10,640

∴ Rs.10,640 is invested in scheme B .

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