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      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’?
      A 4,550 Correct Answer Incorrect Answer
      B 5,375 Correct Answer Incorrect Answer
      C 5,000 Correct Answer Incorrect Answer
      D 6,205 Correct Answer Incorrect Answer

      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

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