1. Arunavo invested total sum of Rs. 16000 in two schemes (A and B) for two years. Scheme A offers compound interest (compounded annually) at the rate of 10% per annum and scheme B offers simple interest at the rate of 12% per annum. If the total interest earned by him from both the schemes after two years is Rs. 3504. How much money (principle) did he invest in scheme B?
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By: anil on 05 May 2019 01.14 am
Let x be the amount invested in scheme A and y be amount invested in amount invested in scheme B.
x+y = 16,000
(x(1+.1)^2 - x) + y*2*0.12 = 3504
0.21x + 0.24y = 3504
Solving the above equation we get,
x = 11,200
y = 4800
He invested Rs.4800 in scheme B.
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x+y = 16,000
(x(1+.1)^2 - x) + y*2*0.12 = 3504
0.21x + 0.24y = 3504
Solving the above equation we get,
x = 11,200
y = 4800
He invested Rs.4800 in scheme B.