📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Mr. Ajay invested in two schemes A and B contributing

    compound interest @ 5% pa and 7% pa respectively. If the entire amount of interest in two years was ₹3499 and the entire amount Funded was ₹ 30000, then what was the amount Funded in scheme A?
    A Rs 20,000 Correct Answer Incorrect Answer
    B Rs 15,000 Correct Answer Incorrect Answer
    C Rs 25,000 Correct Answer Incorrect Answer
    D Rs 16,000 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    Scheme A  A x 105 /100 x 105/100 – X Scheme B  (30000 - X) x [7/100 x 107/ 100 -1]  Now, 0.1025X + (30000 - X) x 0.1449 = 3499  X = 848 /424 x 10000 = Rs 20,000 

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question