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    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

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