Mr. Dua invested money in two schemes A and B | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(A) Let the amount invested in scheme $A$ be $₹ x$. Then,the amount invested in scheme $B$ is $₹ (27000 - x)$. Compound interest for $2$ years is give

Vedclass · Accepted Answer

$12000$

Vedclass · Answer

(A) Let the amount invested in scheme $A$ be $₹ x$. Then,the amount invested in scheme $B$ is $₹ (27000 - x)$. Compound interest for $2$ years is given by the formula $P[(1 + r/100)^n - 1]$. For scheme $A$: $CI_A = x[(1 + 8/100)^2 - 1] = x[(1.08)^2 - 1] = x[1.1664 - 1] = 0.1664x$. For scheme $B$: $CI_B = (27000 - x)[(1 + 9/100)^2 - 1] = (27000 - x)[(1.09)^2 - 1] = (27000 - x)[1.1881 - 1] = 0.1881(27000 - x)$. The total interest is $4818.30$. So,$0.1664x + 0.1881(27000 - x) = 4818.30$. $0.1664x + 5078.7 - 0.1881x = 4818.30$. $-0.0217x = 4818.30 - 5078.7$. $-0.0217x = -260.4$. $x = 260.4 / 0.0217 = 12000$. Thus,the amount invested in scheme $A$ is ₹ $12000$.

Similar Questions

If the rate of interest is $4 \%$ per annum for the first year,$5 \%$ per annum for the second year,and $6 \%$ per annum for the third year,then the compound interest on $Rs. 10000$ for $3$ years will be (in $Rs.$):

What is the rate of interest (in $\%$) if simple interest earned on a certain sum for the $3^{rd}$ year is $₹ 2,000$ and compound interest earned in $2$ years is $₹ 4,160$?

What will be the amount (in ₹) received on $25000$ at the rate of $20 \%$ per annum compounded yearly for $4$ years?

The compound interest (in ₹) on ₹ $12000$ for $9$ months at $20 \%$ per annum,interest being compounded quarterly,is

An amount of money at compound interest grows up to $Rs. 3840$ in $4$ $years$ and up to $Rs. 3936$ in $5$ $years$. Find the rate of interest (in $\%$)?

Vedclass Test Series

Exam Paper Generator

Online Exam Module