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Rs. 6400 invest in two schemes. First part gives 12% rate of interest and second part gives 20% rate of interest. Total interest after 2 years is Rs. 2176. Find the amount invest at 12% rate interest?

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  1. Rs. 2400
  2. Rs. 3000
  3. Rs. 4000
  4. Rs. 3400
  5. Rs. 4400

Answer (Detailed Solution Below)

Option 1 : Rs. 2400
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Detailed Solution

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Calculation

Let x be amount at 12%, then (6400 − x) at 20%

Interest for 2 years: ⇒ x × 12% × 2 + (6400 − x) × 20% × 2 = 2176
⇒ 0.24x + 0.4(6400 − x) = 2176
⇒ 0.24x + 2560 − 0.4x = 2176
⇒ -0.16x = -384
⇒ x = 2400

Rs. 2400 at 12%

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