Question
Aman invests his money in schemes A and B offering
compound interest at 18% p.a. and 25% p.a. respectively. After two years, the compound interest received from scheme B is Rs.1413 more than that from scheme A. The initial investment in scheme B is 20% more than that in scheme A. Find the compound interest earned from scheme A.Solution
ATQ, For scheme A, Principal = 5x, Rate = 18%, Time = 2 years For scheme B, Principal = 6x, Rate = 25%, Time = 2 years Difference in CI = 1413 1413 = [6x(1.25)² – 6x] – [5x(1.18)² – 5x] = 6x(1.5625 – 1) – 5x(1.3924 – 1) = 6x(0.5625) – 5x(0.3924) = 3.375x – 1.962x = 1.413x 1.413x = 1413 x = 1000 Principal in scheme A = 5x = 5 × 1000 = Rs. 5000 CI from scheme A = 5000[(1.18)² – 1] = 5000(1.3924 – 1) = 5000 × 0.3924 = Rs. 1962
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