Question
The ratio of the sums invested by βPβ and βQβ in
SIP βAβ and βBβ is 9:6, respectively. If βPβ invested Rs. 5400 more than βQβ, then find the amount received by βQβ after two years if he had invested his sum at 30% p.a. compound interest, compounded annually.Solution
ATQ, Let the sum invested by βPβ and βQβ be Rs. 9x and Rs. 6x, respectively. According to the question, 9x β 6x = 5400 Or, 3x = 5400 Or, x = 1800 Therefore, sum invested by βQβ in scheme βBβ = 6x = Rs. 10800 Amount received by βQβ = 10800(1 + 30/100)Β² = Rs. 18252
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