Question
P and Q invested Rs.___ and Rs. 12600 in SIP X at 10%
and 20% per annum compound interest, compounded annually, respectively. Additionally, P and Q invested Rs. 5550 and Rs.___ in SIP Y at 24% and 15% per annum simple interest, respectively. The total interest earned by both from both SIPs combined after 2 years amounts to Rs.___. Which of the following options provides values that correctly fill the blanks in the given order to make the statement true? I. 10800, 6180, 12330 II. 12000, 8100, 13158 III. 14400, 5460, 12810Solution
ATQ, Option I, Total Interest = 10800 × (1.12- 1) + 12600 × (1.22- 1) + 5550 × 2 × 0.24 + 6180 × 2 × 0.15 = 2268 + 5544 + 2664 + 1854 = 12330 (True) Option II, Total Interest = 12000 × (1.12- 1) + 12600 × (1.22- 1) + 5550 × 2 × 0.24 + 8100 × 2 × 0.15 = 2520 + 5544 + 2664 + 2430 = 13158 (True) Option III, Total Interest = 14400 × (1.12- 1) + 12600 × (1.22- 1) + 5550 × 2 × 0.24 + 5460 × 2 × 0.15 = 3024 + 5544 + 2664 + 1638 = 12870 (False) Hence, Only I and II is true.
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