Question

Sachin invested rupees 80000 in two investment schemes the first scheme paid him an interest of 7% per annum for 4 years and the others scheme paid him 11% for 5 years if Sachin received a total interest of 35900 from the two schemes calculate the amount invested in each scheme​

Answer 1

If Sachin received a total interest of 35900 from the two schemes then the amount invested in each scheme is Rs. 30,000 & Rs. 50,000.

Step-by-step explanation:

Required formula:

Interest = $\frac{P*R*T}{100}$

The invested amount by Sachin on both schemes = Rs. 80,000

Total interest received = Rs. 35900 …… (i)

Let the principal invested for the first scheme be Rs. “x” and the other scheme be Rs. “(80,000 - x)” .

For the first scheme:

Rate of interest, R = 7 %

Time period, T = 4 years

∴ Interest on the first scheme =  $\frac{x*7*4}{100}$ …… (ii)

For the other scheme:

Rate of interest, R = 11 %

Time period, T = 5 years

∴ Interest on the other scheme =  $\frac{(80,000-x)*11*5}{100}$ …… (iii)

Therefore, from (i), (ii) & (iii), we can write the eq. as

$\frac{x*7*4}{100}$ + $\frac{(80,000-x)*11*5}{100}$ = 35900

⇒ 0.28x + 4400 – 0.55x = 35900

⇒ 0.27x = 8100

⇒ x = 8100/0.27

⇒ x = Rs. 30,000 ← amount on first scheme

∴ 80,000 – x = 80,000 – 30,000 = Rs. 50,000 ← amount on the other scheme

Thus, Sachin invested Rs. 30,000 in first scheme and Rs, 50,000 in the other scheme.

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