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      Question

      Rs. 8500 is invested in scheme β€˜A’ for 2 years and

      Rs. 6500 is invested in scheme β€˜B’ for 2 years. Scheme β€˜A’ offers simple interest of 13% p.a. If the interest received from both the schemes are equal, then find the rate of simple interest (p.a.) offered by scheme β€˜B’.
      A 17% Correct Answer Incorrect Answer
      B 12% Correct Answer Incorrect Answer
      C 13% Correct Answer Incorrect Answer
      D 18% Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Interest received from scheme β€˜A’ = 8500 Γ— 13 Γ— 2 Γ· 100 = Rs. 2210 Let the rate of simple interest offered by scheme β€˜B’ = β€˜k%’ p.a. ATQ; 6500 Γ— 2 Γ— k Γ· 100 = 2210 Or, 130k = 2210 Or, k = (2210/130) = 17 So, rate of simple interest offered by scheme β€˜B’ = 17% per annum.

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