A sum of ₹10000 is invested in three schemes of simple interest. The annual interest rates are respectively, 4%, 6% and 10%. ₹4000 were invested in the first scheme. If the total interest earned after five years is ₹2800, then how much money was invested in the third scheme?
A.₹3000
B.₹5000
C.₹1000✓ Correct
D.₹1500
Explanation
Let the third scheme investment = x, second = (6000−x). Setting up SI equation: (4000×4×5)/100 + (6000−x)×6×5/100 + x×10×5/100 = 2800. Solving gives x = ₹1000.
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