16000 was invested for three years partly in scheme A at the rate of 5 simple interest per annum an...........

Quant (SSC) Simple Interest

? 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 ? 3480. What amount of money was invested in scheme A?

6000

6500

4500

4000

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Explanation:

Let the sum invested in scheme A be ? x.
Then the amount invested in scheme B = ? (16000 – x)
Now, x × 5 × 3 /100 + (16000 – x) × 3 × 8 /100 = 3480
⇒ 15x + 384000 – 24x = 3480 × 100
⇒ 9x = 384000 – 348000 = 36000
∴ x = 36000 /9 = ? 4000