Question
P invested a certain sum in SIP 'A', which earns compound
interest at a rate of 25% per annum for a period of 3 years, resulting in an interest amount of Rs. X. He then invested Rs. (2X - 50) at a compound interest rate of 20% per annum, compounded half-yearly for 1 year, and this investment grew to Rs. 3630. Determine the initial amount P invested in SIP 'A'.Solution
ATQ,
(2X-50) * (1 + (20/2)/100)² = 3630
(2X-50) * (110/100)² = 3630
2X - 50 = 3000
X = 3050/2 = Rs.1525
Let the amount invested in SIP A be Rs.'y'.
y * (1 + 25/100)³ – y = 1525
y * (125/100)³ – y = 1525
125y – 64y = 1525 * 64
y = Rs.1600
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