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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 × R × T / 100 800 = (x + 200) × 20/100 × 2 800 = (x + 200) × 0.4 x + 200 = 800 / 0.4 x + 200 = 2000 x = 1800 For Scheme B, Amount invested = 3x = 3 × 1800 = Rs. 5400 Total amount after 2 years = Rs. 7020 Simple interest from Scheme B = 7020 – 5400 = Rs. 1620 Now use SI formula: 1620 = 5400 × R/100 × 2 1620 = 108R R = 1620 / 108 R = 15%

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