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Question

A person 'P' invested Rs. 'a' in a simple interest (S

I SIP 'X' for 3 years at an annual interest rate of 10%. They also invested Rs. (a + 100) in a compound interest (C
I SIP 'Y', with a quarterly compounding rate of 40% per annum, for a period of 1 year. The interest earned from SIP 'X' is Rs. 358.2 less than the interest earned from SIP 'Y'. Determine the value of 'a'.

A 1750

B 1950

C 1850

D 1900

E None of these

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