New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A person invested Rs. x at 20% CI p.a. in scheme A for 2

    years. The interest received was reinvested in B for 2 years at 15% SI p.a. The amount received from scheme B was 1430. Find x.
    A Rs.2100 Correct Answer Incorrect Answer
    B Rs.3000 Correct Answer Incorrect Answer
    C Rs.2500 Correct Answer Incorrect Answer
    D Rs.2800 Correct Answer Incorrect Answer
    E Rs.1500 Correct Answer Incorrect Answer

    Solution

    CI = P [(1 + (R/100)n) – 1] => CI = x [(1 + (20/100)2) – 1] => CI = x [(36/25) – 1] => CI = 11x/25 Now, interest received was reinvested in scheme B. SI = (11x × 15 × 2)/(25 × 100) => SI = 33x/250 Amount = P + SI => 1430 = 11x/25 + 33x/250 => x = Rs.2500 Alternate Method: => (130/100) × 0.44x = 1430 => x = Rs.2500

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