Question

A person invested Rs. 'y' in Scheme A offering 20% p.a. simple interest for 3 years, and Rs. (y + 1000) in Scheme B offering 10% p.a. compound interest, compounded annually for 2 years. The interest obtained from Scheme A is Rs. 570 more than the interest obtained from Scheme
B. What is the amount received when Rs. (y - 400) is invested at 12% p.a. simple interest for 5 years?

Q: Answer-A person invested Rs. 'y' in Scheme A offering 20% p.a. simple interest for 3 years, and Rs. (y + 10...

According to the question, y 20 3100 - y 10001 101002 - y 1000 570 Or, 0.60y - 0.21y 1000 570 Or, 0.60y - 0.21y - 210 570 Or, 0.39y 780 Or, y 7800.39 Rs. 2000 Therefore, sum invested at 12 p.a. simple interest on y - 400 Rs. 1600 Amount received 1600 12 5100 1600 Rs. 2560 Hence, the correct answer is B.