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A sum of ₹ 10000 is invested in three schemes of simple interest. The annual interest rates are respectively, 4%, 6% and 10%. ₹ 4000 were invested in the first scheme. If the total interest earned after five years is ₹ 2800, then how much money was invested in the third scheme? (SSC MTS 2018)
- a)₹ 1500
- b)₹ 5000
- c)₹ 1000
- d)₹ 3000
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
A sum of 10000 is invested in three schemes of simple interest. The a...
Let the amount invested in third scheme is x then amount invested in second scheme is 1000 – 4000 – x = (6000 – x)
Hence, money invested in third scheme = ₹ 1000.
Hence, money invested in third scheme = ₹ 1000.
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A sum of 10000 is invested in three schemes of simple interest. The a...
Explanation:
Given:
- Total amount invested = $10000
- Annual interest rates = 4%, 6%, 10%
- Amount invested in the first scheme = $4000
- Total interest earned after five years = $2800
Calculating Interest Earned:
1. Let the amounts invested in the second and third schemes be $x and $y respectively.
2. The interest earned from the first scheme = $4000 * 0.04 * 5 = $800
3. The interest earned from the second scheme = $x * 0.06 * 5 = $0.3x
4. The interest earned from the third scheme = $y * 0.10 * 5 = $0.5y
5. Total interest earned = $800 + $0.3x + $0.5y
Calculating Total Investment:
6. Since the total amount invested is $10000, we have: $4000 + x + y = $10000
7. Simplifying the equation, we get: x + y = $6000
Putting the Values:
8. Substituting the above equation into the total interest earned equation:
$800 + $0.3x + $0.5y = $2800
$800 + $0.3x + $0.5(6000 - x) = $2800
$800 + $0.3x + $3000 - $0.5x = $2800
$0.2x = $1000
x = $5000
Calculating Third Scheme Investment:
9. From the equation x + y = $6000, we have: $5000 + y = $6000
y = $1000
Therefore, the amount invested in the third scheme is $1000. (Option C)
Given:
- Total amount invested = $10000
- Annual interest rates = 4%, 6%, 10%
- Amount invested in the first scheme = $4000
- Total interest earned after five years = $2800
Calculating Interest Earned:
1. Let the amounts invested in the second and third schemes be $x and $y respectively.
2. The interest earned from the first scheme = $4000 * 0.04 * 5 = $800
3. The interest earned from the second scheme = $x * 0.06 * 5 = $0.3x
4. The interest earned from the third scheme = $y * 0.10 * 5 = $0.5y
5. Total interest earned = $800 + $0.3x + $0.5y
Calculating Total Investment:
6. Since the total amount invested is $10000, we have: $4000 + x + y = $10000
7. Simplifying the equation, we get: x + y = $6000
Putting the Values:
8. Substituting the above equation into the total interest earned equation:
$800 + $0.3x + $0.5y = $2800
$800 + $0.3x + $0.5(6000 - x) = $2800
$800 + $0.3x + $3000 - $0.5x = $2800
$0.2x = $1000
x = $5000
Calculating Third Scheme Investment:
9. From the equation x + y = $6000, we have: $5000 + y = $6000
y = $1000
Therefore, the amount invested in the third scheme is $1000. (Option C)
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A sum of 10000 is invested in three schemes of simple interest. The annual interest rates are respectively, 4%, 6% and 10%. 4000 were invested in the first scheme. If the total interest earned after five years is 2800, then how much money was invested in the third scheme? (SSC MTS 2018)a) 1500b) 5000c) 1000d) 3000Correct answer is option 'C'. Can you explain this answer?
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