An equal amount of sum is invested in two schemes for 4 years each both offering simple interest The...........

Quantitative Aptitude (CDS) Compound Interest

An equal amount of sum is invested in two schemes for 4 years each, both offering simple interest. The interest amount obtained at 15% is Rs.2000 more than that obtained at 10%. What is the total sum invested?

Rs. 8000

Rs. 10000

Rs. 12000

Rs. 9500

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Explanation:

Difference in interests = Rs. 2000
Difference in Rate = 15 -10 = 5 %
time = 4 years
In 4 years, rate of interest = 5%×4 = 20%
20% = 2000
100% = (2000×100)/20
= Rs. 10000