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    Question

    Rs. 6,000 is deposited in Scheme 'X' which provides

    compound interest at 8% per annum, compounded annually. Another amount of Rs. 5600 is invested in Scheme 'Y' giving simple interest at 20% per annum. What is the ratio of the total returns from Scheme 'X' and Scheme 'Y' respectively after 2 years?
    A 25:28 Correct Answer Incorrect Answer
    B 27:30 Correct Answer Incorrect Answer
    C 18:52 Correct Answer Incorrect Answer
    D 22:19 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    Total amount received from scheme ‘X’ = 6000 × {1 + (8/100)}² = 6000 × (108/100)² = (6000/100) × 108² ÷ 100 = 60 × 116.64 = Rs. 6998.40 Total amount received from scheme ‘Y’ = 5600 + (5600 × 20 × 2 ÷ 100) = 5600 + 5600 × (40/100) = 5600 + 2240 = Rs. 7840 Therefore, required ratio = 6998.40 : 7840 = 875 : 980 = 25 : 28

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