(A) Rs 2000
(B) Rs 2200
(C) Rs 1100
(D) Rs 1200
(E) Rs 2100
Solution: Let investment by Roshan (x × 12.5 * 5 / 100) – {(5200 – x)[(1+ 10/100)3 – 1]} = 190.8 ⇒0.625x - {(5200 – x)[(1331/1000 – 1]} = 190.8 ⇒0.625x – 1721.2 + 0.331x = 190.8 ⇒0.956x - 1721.2 = 190.8 ⇒0.956x = 1912 ⇒X = Rs 2000
2. Ankit invested his amount in ratio 5:6:9 in three schemes P, Q, and R respectively for two years each. Schemes P and R offers annual compound interest rates of 20% and 10% respectively while scheme Q offers an annual simple interest of 15%.
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Total interest received by Ankit from scheme P and Q together is Rs. 1899 more than total interest received from scheme R. Find out the total amount invested by Ankit?(A) 20000 Rs.
(B) 18000 Rs.
(C) 22000 Rs.
(D) 24000 Rs
(E) 25000 Rs
Answer: 2: 18000 Rs.
Explanation: Let Ankit invested in the scheme P,Q and R be Rs. 5x, 6x and 9x respectively. Equivalent CI of two years on 20% = 20 + 20 + (20 ×20)/100 = 44% (For scheme P) Equivalent CI of two years on 10% = 10 + 10 + (10 ×10)/100 = 21% (For scheme R) ATQ, (5x × 44/100) + {6x × (15×2)/100} – {9x×21/100} = 1899 2.2x + 1.8x – 1.89x = 1899 2.11x = 1899 X = 1899/211 X = Rs 900 Total amount = 900×(5+6+9) = Rs 18000
3. The difference between the compound interest and simple interest on a sum of Rs 20,000 at the same rate of interest for 2 years is Rs. 648. What is the rate of interest per annum?
(A) 15%
(B) 18%
(C) 28%
(D) 20%
(E) 25%
Answer: 2: 18% Explanation: Let rate of interest be R% 648 = (20000 × R2 )/10000 ⇒ R2 = 648/2 ⇒ R2 = 324 ⇒ R = 18%
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4. David has total of Rs.12000 with him, partly invested in scheme A which offers 20% compound interest and remaining on scheme B which offers 18% simple interest. Amount of interest received by David from scheme B is Rs.3024 at the end of three years, what is the total amount received by David from scheme A at the end of two years?
(A) Rs.9216
(B) Rs.9340
(C) Rs.9116
(D) Rs.8226
(E) None of these
Answer: A: Rs.9216
Explanation: Amount invested by B = x X * 18 * 3/100 = 3024 X = 5600 Amount invested by A = 12000 – 5600 = 6400 CA = 6400 * (1 + 20/100)2 = 9216
5. Roshan had Rs 5200 he invested some of it in scheme A for 5 years and rest of the money he invests in scheme B for 3 years. Scheme A offers SI at a rate of 12.5% p.a and scheme B offers CI at a rate of 10% p.a. If the interest received from scheme A is Rs 190.8 more than the interest received from scheme B, what was the sum invested by him in scheme A?
(A) Rs 2000
(B) Rs 2200
(C) Rs 1100
(D) Rs 1200
(E) Rs 2100
Answer: A: Rs 2000 Explanation: Let investment by Roshan (x × 12.5 * 5 / 100) – {(5200 – x)[(1+ 10/100)3 – 1]} = 190.8 ⇒0.625x - {(5200 – x)[(1331/1000 – 1]} = 190.8 ⇒0.625x – 1721.2 + 0.331x = 190.8 ⇒0.956x - 1721.2 = 190.8 ⇒0.956x = 1912 ⇒X = Rs 2000
6. Ravi invested Rs.1500 at R% simple interest for 2 years and Rs.2000 at a rate of (R + 4%) simple interest for 3 years. If the total interest earned by him is Rs.1320, then find the value of
(A) 5%
(B) 8%
(C) 10%
(D) 12%
(E) 15% Answer:
D: 12%
Explanation: (1500×R×2)/100 + (2000×(R+4) ×3)/100 = 1320 ⇒30R + 60R + 240 = 1320 ⇒ 90R = 1080 ∴ r = 12%
7. Find the difference between the compound and simple interest earned on Rs. 16000 for 1 year at the rate of 20% compounded quarterly?
(A) 268.10
(B) 348.10
(C) 248.10
(D) 148.10
(E) None of these
Answer: C: 248.10 Explanation: Principle = 16,000 Rate = 5% Time = 4 years Simple Interest = (P × R × T)/100 Simple Interest = (16000 × 5 × 4) /100 Simple Interest = Rs. 3200 Now compound interest P A 20 21 20 21 20 21 20 21 160000 194481 160000 units = 16000 rupees 1 unit = 0.1 Rupees Compound Interest = 34,481 units × 0.1 Compound Interest = Rs. 3448.10 Difference = 3448.10 – 3200 Difference = 248.10
8. A invested Rs.Y at 12% p.a. simple interest for 1 year and B invested (Rs.Y + 600) at 15% p.a. simple interest for 2 years. If the sum of the interest earned by A and B after their investment period is Rs.684, then what is the value of Y?
(A) 1000
(B) 1200
(C) 1500
(D) 1400
(E) 1600
Answer: B: 1200 Explanation: (Y×12×1)/100 + {(Y+600) ×15×2}/100 = 684 ⇒ (12Y+30Y+18000)/100 = 684 ⇒ 42Y + 18000 = 68400 ⇒42Y = 50400 ⇒ Y =1200
9. Rs.3550 is divided into two parts such that if one part is invested at 5% p.a. simple interest and the other at 8% p.a. compound interest annually, then after 2 years the total interest is Rs.521. How much amount was invested at 8% compound interest?
(A) Rs. 2500
(B) Rs. 1500
(C) Rs. 3000
(D) Rs. 1050
(E) Rs. 1750
Answer: A: Rs. 2500 Explanation: Let the amount invested at 8% CI be x Then the amount invested at 5% SI = 3550 – x ATQ, [x ×(1 + 8/100)2 - x] + {(3550-x) × 5 × 2}/100 = 521 ⇒ 1664x/10000 + (35500-10x)/100 = 521 ⇒ 6.64x = 52100 – 35500 ⇒ 6.64x = 16600 ⇒ x = Rs 2500 ∴ Amount invested at 8% CI = Rs 2500
10. The difference between the compound interest and the simple interest on Rs.X after 2 years at 10% p.a. is Rs.150.3. Find the value of X.
(A) Rs 16050
(B) Rs 15000
(C) Rs 17530
(D) Rs 14864
(E) Rs 15030
Answer: E: Rs 15030 Explanation: ATQ, [x ×(1 + 10/100)2 - x] - {x × 10 × 2}/100 = 150.3 ⇒ 21x/100 – 20x/100 = 150.3 ∴ X = Rs. 15030
