ABC26GN4188 · Compound Interest

Subject: General Aptitude · Chapter: Compound Interest · Exam: · Marks: · Difficulty:

Mr. Dua invested money in two schemes A and B offering compound interest @ 8 p.c.p.a. and 9 p.c.p.a. respectively. If the total amount of interest accrued through two schemes together in two years was ` 4818.30 and the total amount invested was ` 27,000, what was the amount invested in Scheme A?

(a)` 12,000

(b)` 13,500

(c)` 15,000

(d)Cannot be determined

(e)None of these

Answer

Answer (as printed): A

Explanation

Let the investment in scheme A be ` x. Then, investment in scheme B = ` (27000 – x).   2   2   8  9  ∴  x ×  1 +  − 1 + (27000 − x )  1 +  − 1    100    100    = 4818.30  104  1881 (27000 − x ) 481830 ⇔ x × + =  625  10000 100 ⇔ 1664x + 1881 (27000 – x) = 48183000 ⇔ (1881x – 1664x) = (50787000 – 48183000) ⇔ 217x = 2604000 2604000 ⇔ x = = 12000. 217

Explanation as extracted from the printed page; notation may be imperfect.

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