A trust fund has invested RS 27000 money in two schemes A and B offeri...
Calculation of Interest
To calculate the interest accrued in scheme A and B, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = total amount
P = principal amount (amount invested)
r = annual interest rate
n = number of times the interest is compounded per year
t = time period in years
Let's calculate the interest accrued in scheme A and B separately.
For scheme A:
P = x
r = 8%
n = 1 (interest is compounded annually)
t = 2 years
A = x(1 + 0.08/1)^(1*2)
A = x(1.1664)
For scheme B:
P = 27000 - x (as the total amount invested is RS 27000 and x is the amount invested in scheme A)
r = 9%
n = 1 (interest is compounded annually)
t = 2 years
A = (27000 - x)(1 + 0.09/1)^(1*2)
A = (27000 - x)(1.1881)
Total Interest = RS 4818.30
We know that the total interest accrued through both schemes is RS 4818.30, so we can set up an equation:
A + B = 4818.30
Substituting the values of A and B, we get:
x(1.1664) + (27000 - x)(1.1881) = 4818.30
Simplifying this equation, we get:
1.1664x + 32004.7 - 1.1881x = 4818.30
-0.0217x = -27186.4
x = 1252088.5
Therefore, the amount invested in scheme A is RS 12520.88.