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06 Dec 2019, 18:28
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
75%
(hard)
Question Stats:
54% (03:11) correct
46%
(02:58)
wrong
based on 24
sessions
History
Date
Time
Result
Not Attempted Yet
Mr. Ravi invested an amount of Rs 2500 divided into two different schemes A and B at the simple interest 14% per annum and 13% per annum respectively. If the total amount of simple interest earned in three years will be Rs 1011, what was the amount invested in scheme B?
A. Rs 1550
B. Rs 1200
C. Rs 1700
D. Rs 1500
E. Rs 1300
A. Rs 1550
B. Rs 1200
C. Rs 1700
D. Rs 1500
E. Rs 1300
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SiddharthR
Joined: 22 Oct 2018
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06 Dec 2019, 19:47
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This should be an easy question but as usual i made a mistake but eventually figured out what i did wrong. Here is the answer anyway.
The two schemes can be written as => X + Y = 2500;
Interest for Scheme A = (x) (3) (0.14) --> P x N x R formula
Interest for Scheme B = (y) (3) (0.13) = (2500 - x) (3) (0.13)
To make calculation easier with decimals lets write Interest for Scheme A as = (x) (3) (0.13 + 0.01)
Given, Interest from A + Interest from B = 1011 = [(x) (3) (0.13 + 0.01)] + [(2500 - x) (3) (0.13)]
Solving this x = 1200 and solving for y gives you 1300 !
The two schemes can be written as => X + Y = 2500;
Interest for Scheme A = (x) (3) (0.14) --> P x N x R formula
Interest for Scheme B = (y) (3) (0.13) = (2500 - x) (3) (0.13)
To make calculation easier with decimals lets write Interest for Scheme A as = (x) (3) (0.13 + 0.01)
Given, Interest from A + Interest from B = 1011 = [(x) (3) (0.13 + 0.01)] + [(2500 - x) (3) (0.13)]
Solving this x = 1200 and solving for y gives you 1300 !
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Problem Solving (PS) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
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