Aman invested Rs 17000 partially in a scheme A offering 12 compound interest compounded annually and......

Aman invested Rs.17000 partially in a scheme A, offering 12 compound interest compounded annually and rest in scheme B offering 15% simple interest. Find the amount invested in scheme A, if the total interest earned by him after two years is Rs.4644.

Let the amount invested in scheme A be x.
Interest earned by scheme A = x*{(1+0.12)^2 – 1} = Rs.0.2544x
Amount invested in scheme B = Rs.(17000 – x)
Interest earned by scheme B = (17000 – x)*0.15*2 = Rs.(5100 – 0.3x)
0.2544x + 5100 – 0.3x = 4644
=> x = 10000

Hence, option 1 is the correct answer.

By: Amit Kumar