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      Question

      Scheme A provides an interest rate of R% compounded

      annually, while Scheme B offers simple interest at the same rate. Anoop has invested Rs. 1200 in both schemes. After 2 years, the interest earned from Scheme A exceeds that of Scheme B by Rs. 27. Determine the value of R.
      A 15 Correct Answer Incorrect Answer
      B 12 Correct Answer Incorrect Answer
      C 7.5 Correct Answer Incorrect Answer
      D 10 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Simple Interest for 2 years = 2R% Compound Interest for 2 years = R + R + (R├ЧR)/100 = (2R + R2/100)% According to question, 1200 ├Ч (2R + R2/100)% - 1200 ├Ч 2R% = 27 1200 ├Ч (2R + R2/100 тАУ 2R)% = 27 (1200/100) ├Ч (R2/100) = 27 12R2┬а= 2700 R2┬а= 2700 ├╖ 12 = 225 R = тИЪ225 = 15

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