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    Question

    Quantity I: Tara invested a certain amount in a simple

    interest scheme at a rate of 18% per annum for 5 years, while Rina invested the same amount in a compound interest scheme at a rate of 15% per annum for 2 years. If the interest earned by Tara from the simple interest scheme is â‚ą3176.25 more than the interest earned by Rina, find the amount invested by Tara. Quantity II: Varun invests â‚ąx in a simple interest scheme at a rate of 16% per annum for 4 years, and he also invests â‚ą4500 in another simple interest scheme at a rate of 18% per annum for 3 years. If the interest from the first scheme is â‚ą770 more than the interest from the second scheme, find the value of x.
    A Quantity I > Quantity II Correct Answer Incorrect Answer
    B Quantity I ≥ Quantity II Correct Answer Incorrect Answer
    C Quantity II > Quantity I Correct Answer Incorrect Answer
    D Quantity II ≥ Quantity I Correct Answer Incorrect Answer
    E Quantity I = Quantity II or Relation cannot be established Correct Answer Incorrect Answer

    Solution

    Answer: A From quantity I, SI = P * N * R/100 (P * 18 * 5 /100) – (P * (1 + 15/100)2 – P) = 3176.25 0.9P – 0.3225P = 3176.25 P = 5500 From quantity II,  (x * 16 * 4/100) – 4500 * 18 * 3/100 = 770 0.64x = 3200 x = 5000 Quantity I > quantity II

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