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.?
First calculate interest =
If we lent the whole amount sum at 8 % rate the interest
Difference in original interest and this assumed interest
It is because the difference in rate of interest
So the sum lent in the scheme which gives 6% interest is