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Rs. 16000 was invested for three years, partly in scheme A at the rate of 5% simple interest per annum and partly in scheme B at the rate of 8% simple interest per annum. The total interest received at the end was Rs. 3480. What amount of money was invested in scheme A?

Rs. 16000 was invested for three years, partly in scheme A at the rate of 5% simple interest per annum and partly in scheme B at the rate of 8% simple interest per annum. The total interest received at the end was Rs. 3480. What amount of money was invested in scheme A? Correct Answer Rs. 4000

Given:

Total invested amount scheme A and B = Rs. 16000

And total interest = Rs. 3480

Rate for Scheme A = 5% and B = 8%

Time for both scheme A & B = 3 years

 Formula used:

Simple interest(SI) = / 100

Calculation:

Let the sum invested in scheme A be Rs. X

Then the amount invested in scheme B = (16000 - X)

According to question, 

SI of scheme A + SI of scheme B = 3480

⇒ (X × 5 × 3)/100 + /100 = 3480

⇒15x + 384000 - 24x = 3480 × 100

⇒ 9x = 384000 - 348000

⇒ x = 36000/9 = Rs. 4000

∴ The amount invested in scheme A  was Rs. 4000

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