Question
Rs. X is invested in a scheme offering 250/4% p.a. for 2
years. The total amount received is Rs. 40,495. If Rs. (X + 3,000) is invested in another scheme offering 15% p.a. simple interest for 3 years, find the interest earned.Solution
X × (250/400) × 2 = 40495 – X Or, (5X/8) + X = 40495 Or, (13X/8) = 40495 Or, X = 40495 × (8/13) So, X = 24,920 Required interest = (X + 3000) × (15/100) × 3 = (24920 + 3000) × (15/100) × 3 = 27,920 × (45/100) = Rs. 12,564 Correct Option: c) Rs. 12.564
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