109
Vijay invested certain amounts of money in two schemes A and B, which offer interest at the rate of $8\%$ per annum and $9\%$ per annum, respectively. He received ₹ $1860$ as the total annual interest. However, had he interchanged the amounts of investments in the two schemes, he would have received ₹ $20$ more as annual interest. How much money did he invest in each scheme?
Show SolutionHide Solution↓
Let $x$ be invested at $8\%$ and $y$ at $9\%$. $\frac{8x}{100} + \frac{9y}{100} = 1860 \implies 8x + 9y = 186000$. $\frac{9x}{100} + \frac{8y}{100} = 1880 \implies 9x + 8y = 188000$. Solving, $x = 12000, y = 10000$.