The interest earned when a sum of Rs. 1,200/? was invested for 4 years in scheme A (offering simple interest at the rate of 20% p.a.) was Rs. 1,460/? less than the amount received when Rs. x was invested for 2 years in scheme B (offering compound interest compounded annually at the rate of 10% p.a.). What was x ?
The interest earned when a sum of Rs. 1,200/? was invested for 4 years in scheme A (offering simple interest at the rate of 20% p.a.) was Rs. 1,460/? less than the amount received when Rs. x was invested for 2 years in scheme B (offering compound interest compounded annually at the rate of 10% p.a.). What was x ?
1). Rs. 4,000/
2). Rs. 2,500/
3). Rs. 1,500/
4). Rs.3,000/
2 answers
Interest earned when a sum of Rs. 1,200/ was invested for 4 years in scheme A at 20% S.I.
= $\frac{1,200 \times 20 \times 4}{100}$
= $12 \times 80 = 960$
Amount received when Rs. x was invested for 2 years in scheme B at 10% C.I.
= $x (1 + \frac{10}{100})^2$
= $x (\frac{11}{10})^2 = \frac{121x}{100}$
Acc to ques,
=> $\frac{121x}{100} - 960 = 1460$
=> $\frac{121x}{100} = 1460 + 960 = 2420$
=> $x = \frac{2420 \times 100}{121}$
=> $x = 20 \times 100$ = Rs. $2,000$
Interest earned when a sum of Rs. 1,200/ was invested for 4 years in scheme A at 20% S.I.
= $\frac{1,200 \times 20 \times 4}{100}$
= $12 \times 80 = 960$
Amount received when Rs. x was invested for 2 years in scheme B at 10% C.I.
= $x (1 + \frac{10}{100})^2$
= $x (\frac{11}{10})^2 = \frac{121x}{100}$
Acc to ques,
=> $\frac{121x}{100} - 960 = 1460$
=> $\frac{121x}{100} = 1460 + 960 = 2420$
=> $x = \frac{2420 \times 100}{121}$
=> $x = 20 \times 100$ = Rs. $2,000$