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. Total interest received at the end was INR 3480/-. How much sum of money was invested in Scheme A
Explanation:
Total amount =INR 16000/-
Let the amount invested in scheme A be INR x.
∴ In scheme B, invested amount = INR (16000-x)
According to question,
x×5×3/100+(16000-x)×8×3/100 = 3480
3/100(5x+128000-8x) = 3480
-3x+128000 = 116000
3x=12000
x=INR 4000/-