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X is invested with Y% SI. X is invested with Y% CI. what is X?

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X is invested with Y% SI. X is invested with Y% CI. what is X? [#permalink]

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New post 04 Aug 2016, 03:43
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Question Stats:

75% (02:07) correct 25% (01:25) wrong based on 28 sessions

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If X is invested in a bank at a rate of simple interest of y% p.a. for two years, then the interest earned is 800. if X is invested at y% p.a., for two years when the interest is compounded annually, the interest is 820. What is the value of X?

A. 8000
B. 6000
C. 5000
D. 4000
E. 3000
[Reveal] Spoiler: OA

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Re: X is invested with Y% SI. X is invested with Y% CI. what is X? [#permalink]

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New post 04 Aug 2016, 04:05
SI = PRN/100
so basically
r = 800*100/2P

we also know CI is slightly greater than SI in this case, 20
it all boils down to option A

keep in mind R is same in both cases - SI & CI
had it been different, it would have been more difficult to solve

IMO - A

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Re: X is invested with Y% SI. X is invested with Y% CI. what is X? [#permalink]

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New post 05 Aug 2016, 06:42
Simple way to solve this question is to use options.

From SI, we know that X*y=40,000.

Now, put the value of X = 8000, we will have y = 5%

To calculate CI,

Now, we know 1st year Amount= 8000+5% of 8000= 8400.
2nd year, Amount = 8400 + 5% of 8400 = 8820.

We can see after 2 years Interest = 8820-8000= 820. hence, it satisfies the question. Hence A is the correct answer
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Re: X is invested with Y% SI. X is invested with Y% CI. what is X? [#permalink]

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New post 14 Oct 2017, 07:22
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Re: X is invested with Y% SI. X is invested with Y% CI. what is X?   [#permalink] 14 Oct 2017, 07:22
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