Aman invested a sum of money in scheme A at the rate of 8% p.a. for a period of 5 years on simple interest. He invested four times the sum of scheme A in scheme B at the rate of 5% p.a. for 7 years on simple interest. He received a total interest amount of ₹1,620. How much (in ₹) did he invest in scheme B?

Question

Accepted Answer

Let the sum invested in scheme A be ₹x.

Interest from scheme A = (Principal × Rate × Time) / 100 = (x × 8 × 5) / 100 = 0.4x

Investment in scheme B = 4x
Interest from scheme B = (4x × 5 × 7) / 100 = (140x) / 100 = 1.4x

Total interest = Interest from A + Interest from B = 0.4x + 1.4x = 1.8x

Given total interest = ₹1,620

So, 1.8x = 1620
=> x = 1620 / 1.8 = 900

Investment in scheme B = 4x = 4 × 900 = ₹3,600

However, the options given are 2,400, 900, 3,200, and 3,600. The correct investment in scheme B is ₹3,600.

Double-checking the calculation:
Interest A = 900 × 8% × 5 = 900 × 0.08 × 5 = 360
Interest B = 3600 × 5% × 7 = 3600 × 0.05 × 7 = 1260
Total interest = 360 + 1260 = 1620, which matches the given total interest.

Therefore, the amount invested in scheme B is ₹3,600.

Answer

Answer

Answer