📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      An amount of Rs. x is invested in SIP ‘A’ under

      compound interest at a rate of 16% per annum, compounded annually, for 2 years. Another amount, Rs. (2x−5000), is invested in SIP ‘B’ under simple interest at a rate of 48% per annum for 5 years. The total interest earned from both SIP ‘A’ and SIP ‘B’ is Rs. 65,184. Determine the total amount invested in both SIP ‘A’ and SIP ‘B’.
      A Rs.20,000 Correct Answer Incorrect Answer
      B Rs.80,000 Correct Answer Incorrect Answer
      C Rs.40,000 Correct Answer Incorrect Answer
      D Rs.90,000 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      ATQ;
      Interest received from SIP ‘A’ = x(1 + 16/100) ² – x = Rs. 0.3456x

      Interest received from SIP ‘B’ = {(2x – 5000) × 0.48 × 5} = Rs. (4.8x – 12000)

      According to the question,

      0.3456x + 4.8x – 12000 = 65184

      Or, 5.1456x = 77184

      Or, x = 15000

      Therefore, total sum invested = x + 2x – 5000 = Rs.40,000

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question