Mr. Kaushik invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% per annum and 11% per annum respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?
Rs. 6400
Rs. 6500
Rs. 7200
Rs. 7500
Explanation:
Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900-x).
Then,
=> x $\times$ 14 $\times$ 2/100 + (13900-x) $\times$ 11 $\times$ 2)/100 = 3508
=> 28x - 22x = 350800 - (13900 x 22)
=> 6x = 45000
=> x = 7500.
So, sum invested in Scheme B = Rs. (13900-7500) = Rs. 6400.