Question

Raghu invests two different sums, one in scheme A
at 8% pa, for two years and the other in scheme B
at 5% pa for three years. If the total sum invested
by him in both the schemes is 318,600 and if the
simple interest received from both the schemes is
the same, then find the sum invested in scheme B​

Answer 1

Answer:

An equal sum is invested in two different schemes. One scheme gives simple interest and the other gives compound interest (annual compounding). The total interest obtained after 2 years from both the schemes together is Rs. 2090. If both the schemes have 18% per annum interest rate, then what is the first year interest (in Rs) of simple interest scheme?

1). 1000

2). 500

3). 545

4). 1045

Step-by-step explanation: