Question
Rohan invests some money in two schemes A and B
offering compound interest at 15% p.a. and 20% p.a. respectively. At the end of two years, the interest received from scheme B is Rs.822 more than that from scheme A. The initial amount invested 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 = 15%, Time = 2 years For scheme B, Principal = 6x, Rate = 20%, Time = 2 years Given difference in interest = 822 822 = [6x(1 + 20/100)² – 6x] – [5x(1 + 15/100)² – 5x] = 6x(1.44 – 1) – 5x(1.3225 – 1) = 6x(0.44) – 5x(0.3225) = 2.64x – 1.6125x = 1.0275x 1.0275x = 822 x = 800 Principal in scheme A = 5x = 5 × 800 = Rs. 4000 CI from scheme A = 4000[(1.15)² – 1] = 4000(1.3225 – 1) = 4000 × 0.3225 = Rs. 1290
Raj invested equal amounts in two schemes x and y at compound interest. In scheme x, the rate of interest was 8% per annum and in scheme y the rate of i...
Ankit invested a total of Rs. 63,000 between two SIPs: 'P', offering 10% compound interest compounded annually, and 'Q', offering 12% simple interest pe...
If the ratio of the sum invested and simple interest received after 1 year is 25:14 respectively, then find the rate of interest.
An amount becomes eight times of itself in 56 years at simple interest. Find the value of (6R − 25).
The difference between compound interest and simple interest at the same rate for Rs. 3200 for 2 years is Rs. 128. The rate of interest per annum is:
A man invests a total of Rs 40,000 in two schemes for 2 years:
I) Scheme A: Simple interest at 8% p.a.
II) Scheme B: Compound interest at ...
A sum of money doubles itself in 8 years at simple interest. In how many years will it become four times itself at the same rate of interest?
Rs. 7,000 is invested in scheme ‘A’ offering simple interest of 12% p.a. and Rs. 8,000 in scheme ‘B’ offering simple interest of 6% p.a. What is...
Gaurav invested Rs. 9000 in a compound interest scheme for 2 years at an annual rate of q%. If he received Rs. 1980 as compound interest, find the rate ...
- A person invested Rs. 50,000 for 4 years at a simple interest rate of 11%. What is the total amount after 4 years?
