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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 an amount in the ratio of 3 : 2 at the rate of (r – 1)% & (2r – 16)% respectively at simple interest. If bigger amount invested for 2 years and man gets interest in the ratio of 15:16, then what will be the smaller amount invested for how many years.

A 2 yrs Correct Answer Incorrect Answer
B 3 yrs Correct Answer Incorrect Answer
C 4 yrs Correct Answer Incorrect Answer
D 1 yrs 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, ATQ, we can say that  Let small amount invested for 't' year [3 × 2 × (16 – 1)]/[2 × t × (2 × 16 – 16)] = 15/16 16 × 6 × 15 = 15 × 2t × 16 t = 3 year

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