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Ashok has to deposit a to

Ashok has to deposit a total of Rs.18000 in two savings schemes of a bank, of which the first one yields a simple interest of 6% p.a. and the second one yields 8% p.a. simple interest. How much should Ashok deposit in the first scheme so that the total amount deposited earns interest at a rate of 7.6% p.a.?

  • Option 1)

    Rs.4400

  • Option 2)

    Rs.3600

  • Option 3)

    Rs.7200

  • Option 4)

    Rs.3500

  • Option 5)

    Rs.5600

Answers (1)
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 First calculate interest = =\frac{7.6}{100} \times 18000 = 1368

If we lent the whole amount sum at 8 % rate the interest = \frac{8}{100}\times 18000 = 1440 Rs.

Difference in original interest and this assumed interest= 72 \: Rs.

It is because the difference in rate of interest = 8-6 = 2

So the sum lent in the scheme which gives 6% interest is = (\frac{72}{2})\times 100 = 3600

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