New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Pratik invested Rs. 6800 in a Mutual Fund 'X' for two years which offered S.I. at the rate of r% per annum and gets total interest of Rs. 2176. There is also another Mutual fund 'Y', which offered C.I annually at the rate of (r –6) %.

    Suppose a man invested Rs.(4000 + 2a) in Mutual Fund 'X'

    for 2 years and Rs. (3200 + 6a) in scheme 'Y' for 2 years and interest gets from Mutual Fund 'X' is Rs. 112 more than interest gets from Mutual Fund 'Y', then what will be the entire amount invested in Mutual Fund 'Y'.
    A Rs.5000 Correct Answer Incorrect Answer
    B Rs.1200 Correct Answer Incorrect Answer
    C Rs.3000 Correct Answer Incorrect Answer
    D Rs.8000 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, we can say that Rate in Scheme ‘X’ = R  = [(2176 × 100)/(6800 × 2)]  = 16% Rate in Scheme ‘Y’ =  R – 6 =  16 – 6 = 10% Then, (4000 + 2a) × 2 × 0.16 – (3200 + 6a) × (1.12 – 1) = 112 (4000 + 2a) × 0.32 – (3200 + 6a) × 0.21 = 112 1280 + 0.64a – 672 – 1.26a = 112 0.62x = 496 a = 800 Amount invested in Scheme 'Y' =  3200 + (6 × 800) = Rs.8000

    Practice Next

    Relevant for Exams: