Rohan invests a portion of a total sum of ₹P in scheme A for 4 years and the remaining amount in Scheme B for 5 years. Scheme A offers a simple interest rate of r% per annum, while Scheme B offers a simple interest rate of (r + 2)% per annum. The amount invested in Scheme A is 50% more than the amount invested in Scheme B. If the total interest earned from both schemes is ₹1,920 and the amount invested in Scheme A is ₹2,400, what is the simple interest rate, r?
A.12%
B.15%
C.5%
D.10%✓ Correct
Explanation
Scheme A amount = ₹2400, Scheme B = ₹1600 (since A is 50% more). SI_A = 2400×r×4/100; SI_B = 1600×(r+2)×5/100. Total = 1920. Solving: 96r + 80(r+2) = 1920 → 176r = 1760 → r = 10%.
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