A person invested ₹20,000 in two different schemes. He invested one part for 4 years at 8% simple interest and the other part for the same duration at 10% simple interest. If the interest earned from the second part was ₹2,240 more than the interest earned from the first part, how much money was invested in the second scheme?
₹12,000
Let amount in second scheme = ₹x, so first scheme = ₹(20000 − x).
SI₁ \(= \dfrac{(20000-x) \times 8 \times 4}{100} = 0.32(20000-x)\)
SI₂ \(= \dfrac{x \times 10 \times 4}{100} = 0.4x\)
Condition: \(0.4x - 0.32(20000-x) = 2240\)
\(0.4x - 6400 + 0.32x = 2240\)
\(0.72x = 8640 \Rightarrow x = \mathbf{12{,}000}\)
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