Question: Shashi had a sum of money. Two-third of the total money he invested in scheme A for 6 yr and rest of the money he invested in scheme B for 2 yr. Scheme A offers simple interest at a rate of 12% per annum and scheme B offers compound interest (compounded annually) at the rate of 10% per annum. If the total sum obtained from both the schemes is Rs. 2805, what was the total amount invested by him in scheme A and scheme B together?
[IBPS (SO) IT 2014]
Options:
A) Rs. 1500
B) Rs. 5100
C) Rs. 1000
D) Rs. 2000
E) Rs. 1464
Show Answer
Answer:
Correct Answer: B
Solution:
- Let Shashi had sum of Rs. P.
Then,
$ \frac{2}{3}P\times \frac{12\times 6}{100}+\frac{1}{3}P{{( 1+\frac{10}{100} )}^{2}}-\frac{1}{3}p=2805 $
$ \Rightarrow $ $ \frac{48P}{100}+\frac{1}{3}P( \frac{121}{100} )-\frac{1}{3}P=2805 $
$ \Rightarrow $ $ \frac{48P}{100}+\frac{121P-100P}{300}=2805 $
$ \Rightarrow $ $ \frac{144P+21P}{300}=2805 $
$ \Rightarrow $
$ \Rightarrow $
$ \Rightarrow $ $ P=\frac{2805\times 300}{165} $
$ \Rightarrow $ $ P=17\times 300 $
$ \Rightarrow $ $ P=Rs.5100 $
BETA
