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 ₹3176.25 more than the interest earned by Rina, find the amount invested by Tara. Quantity II: Varun invests ₹x in a simple interest scheme at a rate of 16% per annum for 4 years, and he also invests ₹4500 in another simple interest scheme at a rate of 18% per annum for 3 years. If the interest from the first scheme is ₹770 more than the interest from the second scheme, find the value of x.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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