An individual invested certain amounts in three different schemes P, Q, and R at simple-interest rates of 7% p.a., 9% p.a., and 11% p.a. respectively. If the total interest accrued in one year was ₹2,520 and the amount invested in Scheme R was 250% of the amount invested in Scheme P and 300% of the amount invested in Scheme Q, what was the amount invested in Scheme P?
₹6,000
Let the amount invested in P be \(x\).
Step 1 — express Q and R in terms of x.
\(R = 250\% \text{ of } P = 2.5x\)
\(R = 300\% \text{ of } Q \implies Q = \dfrac{R}{3} = \dfrac{2.5x}{3} = \dfrac{5x}{6}\)
Step 2 — total simple interest for one year:
\(0.07x \;+\; 0.09 \cdot \dfrac{5x}{6} \;+\; 0.11 \cdot 2.5x \;=\; 2520\)
\(0.07x + 0.075x + 0.275x = 0.42x = 2520\)
Step 3 — solve:
\(x = \dfrac{2520}{0.42} = 6000\)
Hence the amount invested in Scheme P is ₹6,000.
Similar Questions
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Important Questions from Simple Interest
- How long will it take for ₹1,500 to become ₹2,040 at a rate of 8% per annum simple interest?
- Find the simple interest (in ₹) if a sum of ₹400 is borrowed for 5.5 years at 12% per annum rate of interest.
- Find the simple interest (in ₹) if a sum of ₹400 is borrowed for 4.5 years at 8% per annum rate of interest.
Find the simple interest (in ₹) if a sum of ₹400 is borrowed for 5.5 years at 4% per annum rate of interest.
- Find the simple interest (in ₹) on ₹1,200 at an interest rate of 3% per month for 11 months.
