Question

Sharad invested two equal amounts for 6 years and 3 years at the rate of 7% and 9% per annum, respectively. The sum of their simple interest is ₹1,587. The invested amount (in ₹) by Sharad is:

• A. 4650
• B. 4600
• C. 4374
• D. 4550

Answer 1

Answer:

B. 4600

Let each investment = ₹(x)

Simple interest for both

For 6 years at 7%:
$SI_1 = \frac{x \times 7 \times 6}{100} = 0.42x$

For 3 years at 9%:
$SI_2 = \frac{x \times 9 \times 3}{100} = 0.27x$

Total interest

$0.42x + 0.27x = 0.69x$

Given:
$0.69x = 1587$

Solve

$x = \frac{1587}{0.69} = 2300$

Total invested amount

Since two equal amounts:
$2x = 2 \times 2300 = 4600$