Mr. Thomas invested an amount of ₱13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11
% p.a. respectively. If the total amount of simple interest earned in 2 years be ₱3508, what was the amount invested in Scheme B?
1 answer:
9514 1404 393
Answer:
₱6400
Step-by-step explanation:
Let 'b' represent the amount invested in scheme B. Then 13900-b is the amount invested in scheme A. The total interest for 2 years is then ...
14%(13900-b)(2) +11%(b)(2) = 3508
1946 -0.03b = 1754 . . . . . . divide by 2, simplify
-0.03b = -192 . . . . . . . . . subtract 1946
b = 6400 . . . . . . . . . . . divide by -0.03
The amount invested in scheme B was ₱6400.
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