Question

Sunil invested Rs. x in scheme A at a rate of 15% per annum for 2 years and invested Rs. (x + 500) in scheme B at the rate of 12% per annum for 2years. If the total interest received by him at the end of 2 years is Rs. 4224 then find the value of x.

1. 8200
2. 7600
3. 7200
4. 7800
5. None of these

Answer 1

Correct Answer - Option 2 : 7600

Given:

Amount invested by Sunil in scheme A = x

Amount invested by Sunil in scheme B = x + 500

Rate of interest in scheme A = 15% per annum

Rate of interest in scheme B = 12% per annum

Total interest received after 2 years = 4224

Concept used:

Total interest = Interest received in scheme A + Interest received in scheme B

Calculation:

Total interest = {(x × 15 × 2)/100} + [{(x + 500) × 12 × 2}/100] = 4224

⇒ {30x/100} + [{24x + 12000}/100] = 4224

⇒ {30x/100} + {24x/100} = 4224 – 120

⇒ 54x/100 = 4104

⇒ x = 410400/54

⇒ x = 7600

∴ The value of x is 7600.

Note:

If SI and CI are not mentioned then we will take assume the question based on Simple Interest.