Partnership Ques 26
Question
A sum of Rs. 7400 was invested in two schemes : partially in Scheme-A (for 4 years) and partially in scheme-B (for 2 years). Scheme A offered simple interest at the rate of $15 \%$ per annum Scheme-B offered compound interest (compounded annually) at the rate of $10 \%$ per annum. If the interest earned from Scheme-A was Rs. 1200 more than that from Scheme-B, what was the sum invested in scheme-B? (in Rs.)
(1) 4000
(2) 3400
(3) 4500
(4) 4200
(5) 3700
(IBPS RRBs Officer CWE (Prelim Exam) 11.08.2018)
Show Answer
Answer: (1)
Solution: (1)
Investment in scheme-B = Rs. $x$
$\therefore$ Investment in scheme-A $=$ Rs. $(7400-x)$
Interest from scheme-A $=\frac{(7400-x) \times 15 \times 4}{100}$ $=$ Rs. $\frac{3}{5}(7400-x)$
Interest from scheme-B $ =P\left[\left(1+\frac{R}{100}\right)^{T}-1\right]$ $ =x\left[\left(1+\frac{10}{100}\right)^{2}-1\right] $ $ =x\left[\left(\frac{11}{10}\right)^{2}-1\right]$ $=x\left(\frac{121}{100}-1\right)=$ Rs. $\frac{21 x}{100}$
According to the question,
$ \begin{aligned} & \frac{3}{5}(7400-x)-\frac{21 x}{100}=1200 \\ & \Rightarrow \frac{7400-x}{5}-\frac{7 x}{100}=400 \\ & \Rightarrow 1480-\frac{x}{5}-\frac{7 x}{100}=400 \\ & \Rightarrow \frac{x}{5}+\frac{7 x}{100}=1480-400 \\ & \Rightarrow \frac{20 x+7 x}{100}=1080 \\ & \Rightarrow 27 x=1080 \times 100 \\ & \Rightarrow x=\frac{1080 \times 100}{27}=\text { Rs. } 4000 \end{aligned} $
BETA
