Question
Rs. 5,000 is invested for 3 years in scheme ‘X’
offering simple interest at 8% per annum. The interest earned is equal to the interest obtained when a certain sum is invested for 4 years in scheme ‘Y’ offering 6% simple interest per annum. What is the sum invested in scheme ‘Y’?Solution
ATQ,
Interest received from scheme ‘X’ = Rs. 5000 × 3 × 8 ÷ 100 = Rs. 1200
Let the amount invested in scheme ‘Y’ = Rs. ‘A’
Then, interest received from scheme ‘Y’ = A × 4 × 6 ÷ 100 = Rs.
(24A/100)
So, 1200 = (24A/100)
Or, A = (1200 × 100) ÷ 24 = 5000
So, amount invested in scheme ‘Y’ = Rs. 5,000
SEBI has revised its framework regarding ‘fit and proper’ criteria for stock exchanges and other market infrastructure institutions, whereby any dir...
What amount of remittances did India receive in 2023 according to the World Bank?
Which state has announced Vinaya Samarasya Yojana, an awareness programme meant to eradicate untouchability in Gram Panchayats across the state?
Indian Navy Participation Women20@g20 at which of the following city in 27 – 28 Feb 23?
Recently, which ministry has allowed HDFC Bank, Axis Bank and ICICI Bank to provide financial services in overseas procurement?
Where is the first-ever global partner roadshow "Confluence: Where Energy and Opportunity Converge" organized by Oil India Limited?
Luiz Inacio Lula da Silva became President of which country?
Regarding Mission Karmayogi, consider the following statements:
       I.           It is aimed at building a future-ready ci...
Where was the 31st Singapore India Maritime Bilateral Exercise (SIMBEX) 2024 being held?
What is the 2025 theme of World Hepatitis Day observed on July 28?