Question

    The ratio between the interest obtained from scheme L

    and M in 6 and 4 years is 4:3 respectively. In scheme L, Rs. 6000 was deposited on simple interest at the rate of (R+2)% per annum. If the simple interest obtained from scheme M after 4 years is Rs. 5400 and initially the amount deposited in scheme M is 50% more than the amount deposited in scheme L, then find out the ratio between the rate of interest per annum in scheme M and L respectively.
    A 2 : 5 Correct Answer Incorrect Answer
    B 3 : 5 Correct Answer Incorrect Answer
    C 3 : 4 Correct Answer Incorrect Answer
    D 5 : 6 Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The ratio between the interest obtained from scheme L and M in 6 and 4 years is 4:3 respectively.

    If the simple interest obtained from scheme M after 4 years is Rs. 5400.

    simple interest obtained from scheme L after 6 years = (5400/3)x4 = Rs. 7200

    In scheme L, Rs. 6000 was deposited on simple interest at the rate of (R+2)% per annum.

    7200 = 6000x(R+2)%x6

    20 = (R+2)    Eq.(i)

    initially the amount deposited in scheme M is 50% more than the amount deposited in scheme L.

    amount deposited in scheme M = Rs. 6000 of (100+50)%

    = Rs. 6000 of 150%

    = Rs. 9000

    Rate of interest in scheme M = (5400x100)/(9000x4)

    = 15%

    Ratio between the rate of interest per annum in scheme M and L respectively = 15 : (R+2) [By Eq.(i)]

    = 15 : 20

    = 3 : 4

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