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Question
An employee of an organization invests a total of Rs 25,400 in two different schemes X and Y at a simple interest rate of 18% per annum and 10% per annum respectively. If a total of Rs. 6460 has been earned as a simple interest in 2 years, what amount was invested in Scheme Y?
Options
Rs. 8,625
Rs. 16,775
Rs. 12,240
Rs. 10,930
Solution
Rs. 16,775
Explanation:
Let the amount invested in scheme Y is m,
then, the amount invested in scheme X is (25400 − m)
ATQ,
228600 − 9m + 5m = 161500
4m = 67100
m = ₨. 16775
Amount invested in scheme Y = ₨. 16775
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