Question Details

Gappu invested Rs X at 8% simple interest for three years in a scheme and he invested the same sum for four years at 4% simple interest in another scheme. If the total interest get by Gappu from both the schemes is Rs 398, then find X.

Options

A

920

B

935

C

495

D

995

E

850

Show Answer

Correct Answer :

Option D

995

995

Solution :

The correct answer is 995.

Let's find the value of X step-by-step using the formula for Simple Interest (SI):

SI=P×R×T100

where:
- P is the Principal amount invested,
- R is the Rate of interest per annum, and
- T is the Time period in years.

Step 1: Calculate the interest from the first scheme
Gappu invested Rs X at a rate of 8% for 3 years.
Interest from scheme 1=X×8×3100=24X100

Step 2: Calculate the interest from the second scheme
Gappu invested the same sum of Rs X at a rate of 4% for 4 years.
Interest from scheme 2=X×4×4100=16X100

Step 3: Set up the equation for total interest
The total interest obtained from both schemes is given as Rs 398.
24X100+16X100=398

Combine the fractions:
40X100=398

Simplify the fraction:
0.4X=398

Solve for X:
X=3980.4

X=995

Therefore, the value of the invested sum X is Rs 995.

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