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      Question

      Ramesh invested Rs. (x + 200) in Scheme A at a simple

      interest rate of 20% p.a. for 2 years, and the interest received is Rs. 800. He then invested Rs. 3x in Scheme B at a rate of R% p.a. (simple interest), and the total amount received from Scheme B after 2 years is Rs. 7020. Find the value of R.
      A 36% Correct Answer Incorrect Answer
      B 15% Correct Answer Incorrect Answer
      C 42% Correct Answer Incorrect Answer
      D 24% Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      According to the question, For Scheme A, SI = P ├Ч R ├Ч T / 100 800 = (x + 200) ├Ч 20/100 ├Ч 2 800 = (x + 200) ├Ч 0.4 x + 200 = 800 / 0.4 x + 200 = 2000 x = 1800 For Scheme B, Amount invested = 3x = 3 ├Ч 1800 = Rs. 5400 Total amount after 2 years = Rs. 7020 Simple interest from Scheme B = 7020 тАУ 5400 = Rs. 1620 Now use SI formula: 1620 = 5400 ├Ч R/100 ├Ч 2 1620 = 108R R = 1620 / 108 R = 15%

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