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A certain amount is split equally between two investment

Q: Answer-A certain amount is split equally between two investment plans. One offers simple interest and the o...

ATQ, Let the amount invested in each scheme be Rs. P. Let the annual interest rate be r p.a. Simple interest for 2 years Rs. 640 So, SI per year 640 2 Rs. 320 Since both interests match in the first year, CI for 1st year Rs. 320 CI in 2nd year 688 - 320 Rs. 368 Now, this extra Rs. 48 is the interest on Rs. 320 for 1 year. 320 r 1 100 368 - 320 48 r 48 100 320 15 Hence, Rate of Interest 15

plans. One offers simple interest and the other compound interest, both at the same annual rate compounded yearly. After 2 years, the simple interest earned is Rs. 640, and the compound interest is Rs. 688. Find the rate of interest per annum.

A 15%

B 20%

C 25%

D 45%

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A certain amount is split equally between two investment

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