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A sum is equally invested in two different schemes on CI at the rate of 15% and 20% for two years. If interest gained from the sum invested at 20% is Rs. 528.75 more than the sum invested at 15%, find the total sum?

Correct Answer: Rs. 9000

Explanation:

Let Rs. K invested in each scheme


Two years C.I on 20% = 20 + 20 + 20x20/100 = 44%


Two years C.I on 15% = 15 + 15 + 15x15/100 = 32.25%


Now,


(P x 44/100) - (P x 32.25/100) = 528.75


=> 11.75 P = 52875


=> P = Rs. 4500


 


Hence, total invested money = P + P = 4500 + 4500 = Rs. 9000.


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