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Bunuel
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Petro invested x dollars each in scheme A and scheme B for two years. 04 Jan 2023, 09:00
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55% (hard)

Question Stats:

70% (02:15) correct 30% (02:27) wrong based on 194 sessions

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Petro invested x dollars each in scheme A and scheme B for two years. Scheme A offered a simple interest rate of 10 percent per annum while scheme B offered an interest rate of 10 percent per annum compounded annually. If the amount received by Petro at the end of two years in scheme B was $63 greater than the amount received from scheme A, how much in dollars did he invest in scheme A?

A. 630
B. 3150
C. 5040
D. 6300
E. Cannot be determined
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D
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Petro invested x dollars each in scheme A and scheme B for two years. 04 Jan 2023, 09:40
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X amount at the rate of 10% per annum in SI and CI.
SI : Amount X' = P + (P x R x T / 100) = X + (X x 10 x 2 /100) = 1.20X
CI : Amount X" = P (1 + R/100)T = X ( 1 + 10/100)2 = X (110/100)=1.21 x

Given -
X" - X' = 63
or 1.21 x - 120 x = 63
0.01 x = 63
x = 6300
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sanyasanha
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Petro invested x dollars each in scheme A and scheme B for two years. 09 Jan 2023, 05:23
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arup1590
X amount at the rate of 10% per annum in SI and CI.
SI : Amount X' = P + (P x R x T / 100) = X + (X x 10 x 2 /100) = 1.20X
CI : Amount X" = P (1 + R/100)T = X ( 1 + 10/100)2 = X (110/100)=1.21 x

Given -
X" - X' = 63
or 1.21 x - 120 x = 63
0.01 x = 63
x = 6300
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Hello
Why have you taken P+ (P x R x T /100) for simple interest? That extra P added at the front is confusing me.
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himssss29
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Petro invested x dollars each in scheme A and scheme B for two years. 04 Aug 2025, 04:56
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An extra P is added because formula for SI- PRT/100 generates the interest and for the amount, principle amount is to be added.
sanyasanha
arup1590
X amount at the rate of 10% per annum in SI and CI.
SI : Amount X' = P + (P x R x T / 100) = X + (X x 10 x 2 /100) = 1.20X
CI : Amount X" = P (1 + R/100)T = X ( 1 + 10/100)2 = X (110/100)=1.21 x

Given -
X" - X' = 63
or 1.21 x - 120 x = 63
0.01 x = 63
x = 6300

Hello
Why have you taken P+ (P x R x T /100) for simple interest? That extra P added at the front is confusing me.
Show more
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luisdicampo
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Petro invested x dollars each in scheme A and scheme B for two years. 02 Mar 2026, 08:36
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Deconstructing the Question

Petro invests x in each scheme for 2 years.
Scheme A offers 10% simple interest.
Scheme B offers 10% compounded annually.
After 2 years, scheme B gives $63 more than scheme A.
We need to find x.

Step-by-step

Scheme A (simple interest for 2 years):

\(Interest = x \times 0.10 \times 2 = 0.20x\)
\(Amount_A = x + 0.20x = 1.20x\)

Scheme B (compound interest):

After year 1:
\(x \rightarrow 1.10x\)

After year 2:
\(1.10x \times 1.10 = 1.21x\)

\(Amount_B = 1.21x\)

Difference:

\(1.21x - 1.20x = 0.01x\)

Given:

\(0.01x = 63\)

Solve:

\(x = \frac{63}{0.01}\)
\(x = 6300\)

Answer: 6300
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