Question : Rajesh invested INR 10,000 by dividing it into two different investment schemes, A and B, at simple interest rates of 8% and 10%, respectively. If the total interest earned in 2 years is INR 1,680, the amount invested in scheme A is:
Option 1: INR 8,000
Option 2: INR 2,000
Option 3: INR 6,000
Option 4: INR 4,000
Correct Answer: INR 8,000
Solution : Let the amount invested in scheme A be $x$ and in scheme B be $y$ Rate of A scheme = $\frac{8}{100}$ = 0.08 Rate of B scheme = $\frac{10}{100}$ = 0.10 Total invested amount INR 10,000 ⇒ $x + y$ = 10,000 Total interest = ($x$ × 0.08 × 2) + ($y$ × 0.10 × 2) = 1680 ⇒ 0.16$x$ + 0.20 $y$ = 1680 ⇒ 0.16 $x$ + 0.20(10,000 – $x$) = 1680 ⇒ 0.16 $x$ + 2000 − 0.20 $x$ = 1680 ⇒ – 0.04 $x$ = 1680 – 2000 = – 320 ⇒ $x$ = $\frac{– 320}{ – 0.04}$ = 8000 Hence, the correct answer is INR 8,000.
Result | Eligibility | Application | Selection Process | Cutoff | Admit Card | Preparation Tips
Question : Peter invested a certain sum of money in a scheme paying 10% simple interest per annum, while Rachel invested half of the sum that Peter invested in a scheme paying 10% interest per annum compounded annually. Also, while Peter invested for 2 years, Rachel invested for 3 years.
Question : A person invested a sum of INR 10,500 at $x$% per annum at simple interest and a sum of INR 13,500 at $(x + 2)$% p.a. at simple interest. If the total interest earned on both investments for 3 years is INR 7,650, then the rate of interest on the first investment is:
Question : If interest is compounded half-yearly, then find the compound interest on INR 8,000 at 20% p.a. for 1 year.
Question : A certain sum (in INR) is invested at simple interest at y% per annum for $3 \frac{1}{2}$ years. Had it been invested at (y + 4)% per annum at simple interest, it would have fetched INR 4,452 more as interest. What is the sum?
Question : John invested a sum of money at an annual simple interest rate of 10%. At the end of four years, the amount invested plus interest earned is Rs. 770. The amount invested was:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile